Sambhv Steel Tubes raises Rs 161 crore via anchor book ahead of Rs 540-crore IPO

Sambhv Steel Tubes IPO

Sambhv Steel Tubes, the electric resistance welded steel pipes and structural tubes maker, has raised Rs 161.3 crore via anchor book on June 24, of the Rs 540-crore initial public offering (IPO).

The company will open its IPO for all investors on June 25, and close on June 27, with price band of Rs 77-82 per share. The IPO is a combination of fresh issue of equity share worth Rs 440 crore, and an offer-for-sale of Rs 100 crore worth shares by Goyal family.

The Chhattisgarh-based company on Tuesday has finalised allocation of 1.96 crore equity shares to anchor investors at a price of Rs 82 per share.

Whiteoak Capital Mutual Fund, Ashoka India, Motilal Oswal MF, Niveshaay Sambhav Fund, Saraswati Commercial (India), Astrone Capital, Citigroup Global, Nomura Singapore, Societe Generale, and BNP Paribas Financial Markets are amongst institutional investors participated in the anchor book.

"Out of the total allocation of 1.96 crore equity shares to anchor investors, 66.71 lakh shares worth Rs 54.7 crore were allocated to 2 mutual funds which have applied through their 6 schemes," Sambhv Steel Tubes in its filing to exchanges said.

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The company that manufactures stainless steel coils with backward integration proposed to utilise fresh issue proceeds mainly to pare debt by Rs 390 crore, and the remainder funds for general corporate purposes. Its total outstanding borrowings were Rs 554.6 crore at the end of April 2025.

Promoters hold 71.93 percent stake in Sambhv Steel Tubes that competes with listed entities like APL Apollo Tubes, Hariom Pipes Industries, Hi-Tech Pipes, JTL Industries, Rama Steel Tubes, and Surya Roshni. And the remaining 28.07 percent shares are owned by the public shareholders.

Nuvama Wealth Management, and Motilal Oswal Investment Advisors are acting as the book running lead managers for the Sambhv Steel Tubes IPO.