The company aims to raise ₹72 crore through this IPO.
The three-day initial public offering (IPO) of Vibhor Steel Tubes Limited, a manufacturer of pipes and steel tubes, will open for subscription on Tuesday, with February 15 being the final date to subscribe.
The company’s IPO, one of two such public offers hitting the Dalal Street this week, aims to raise ₹aims to raise ₹72.17 crore through the issuance of fresh shares. Additionally, as per HT’s sister publication Mint, ahead of the issue opening, shares of Vibhor Steel Tubes Limited are available in the grey market, and are available at a premium of ₹132 in the grey market.
Read More: Atmastco’s Rs 56-Crore IPO to Open on February 15; Check Details
To subscribe or not?
Arun Kejriwal, Founder of Kejriwal Research and Investment Services, spoke to Mint, and gave a ‘subscribe’ tag.
The issue price is quite attractive and one can ‘apply for strong listing gain’,’ he said.
Read More: IPO Go-Ahead: Gopal Snacks, 2 Others Get Sebi’s Approval For Initial Public Offering
Avinash Gorakshkar, Head of Research at Profitmart Securities, too gave a ‘subscribe’ tag.
“The public offer is less than 50% of the valuations of its peers. So, the issue is expected to receive a strong response from investors, and looking at its size, I won’t be surprised if the book build issue gets fully subscribed in few hours of the issue opening on Tuesday.”
Read More: Stocks to Watch: Coal India, ZEE, Eicher Motors, Hindalco, SAIL, Paytm, and Others
Additionally, Gorakshkar too advised investors to apply for listing gain.
(Disclaimer: Views of individual firms/analysts)
