- Vibhor Steel’s
IPO received excellent response from investors on the final day. - The minimum lot size for the IPO was 99 equity shares and in multiples of 99 equity shares thereafter.
- The price band was fixed at ₹141 to ₹151 per share and the issue closed on February 15.
The issue has seen excellent participation from non-institutional investors (NIIs), retail investors and employees. Qualified institutional buyers (QIBs) have also subscribed for a good amount at the end of day three.
The company has fixed the price band at ₹141 to ₹151 per equity share for its maiden public offer which closed on Thursday, February 15. Investors can bid for a minimum of 99 equity shares and in multiples of 38 equity shares thereafter.
Ahead of the IPO, the company raised ₹21.5 crore from anchor investors.
The public issue of 44.55 lakh shares that have a face value of ₹10 comprises fresh issuance of equity shares worth ₹72.17 crore.
The company will use the net proceeds to fund the working capital requirements and for general corporate purposes.
Founded in 2003,
The company has recently signed a six year agreement with Jindal Pipes Limited, under which Jindal Pipes will place an annual order with a minimum quantity of 1 lakh MT. This will fill the major capacity of Units I and II of the company.
At present, the company runs two manufacturing facilities in Raigad, Maharashtra and Mahbubnagar, Telangana. It also has a warehouse in Hisar, Haryana.
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