Vibhor Steel Tubes on February 20 made a stellar market debut as its shares closed with a huge premium of 193 percent against the issue price of Rs 151.
The stock made its debut at Rs 421, reflecting gains of 178.81 percent from the issue price on the BSE. The stock settled at Rs 442, up by 192.72 percent over the IPO price.
On the NSE, shares of Vibhor Steel Tubes listed at Rs 425, reflecting a premium of 181.46 per cent to the issue price. The stock closed at Rs 446.25 per piece.
In volume terms, 22.22 lakh equity shares were traded on the NSE, while 1.10 lakh shares changed hands on the BSE during the day.
At the close of the session, the company's market valuation stood at Rs 838.14 crore on the BSE.
On Tuesday, the 30-share BSE Sensex benchmark surged by 349.24 points or 0.48 percent to end at 73,057.40, while Nifty of the NSE rose by 74.70 points to close at a new record level of 22,196.95.
Last week, Vibhor Steel Tubes' IPO was subscribed nearly 300 times on the final day, driven by overwhelming participation from institutional investors.
Founded in 2003, Vibhor Steel Tubes (VSTL) is a manufacturer of high-quality steel tubes and pipes that are used in various heavy engineering industries in India.
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