New Delhi: Vibhor Steel Tubes IPO is scheduled to open on Tuesday, February 13, 2024 and closes on Thursday February 15, 2023 with a price band of Rs 141-151 per share for a fundraise of Rs 72.17 crore. The manufacturer, exporter and supplier of steel pipes and tubes to heavy engineering companies in India with issue fresh shares as part of the IPO.
Vibhor Steel Tubes IPO is expected to allot stocks by February 16, 2024, and credit them to demat accounts by February 19, 2024. The tentative listing date is February 20, 2024. Vibhor Steel Tubes IPO will be available to retail buyers in a minimum lot size of 99 shares priced at Rs 14,949.
Retail buyers can subscribe for a maximum of 13 lots, comprising 1,287 shares worth Rs 1,94,337.
Vibhor Steel Tubes is promoted by:
Vijay Laxmi Kaushik
Vijay Kaushik HUF
Total promoter holdings stand at 98.24 per cent as of pre-issue. Vibhor Steel Tubes manufactures pipes for usage in water, oil and gas and non-toxic supplies, agriculture and infrastructure purposes. The pipe maker reported revenue worth Rs 1,114.38 crore up to March 31, 2023, up 36.15 per cent year-on-year and profit after tax of Rs 21.07 crore, up 85.91 per cent during the period under consideration. Proceeds from Vibhor Steel Tubes IPO will be used to fund capital requirements and for general corporate purposes.
Vibhor Steel Tubes IPO GMP
The grey market premium for Vibhor Steel Tubes IPO stood at Rs 120 per share, indicating a listing price of Rs 272 per share. The GMP indicates a strong start for the IPO. GMP denotes the premium that individuals are willing to pay over and above the IPO price band to secure one share of the company.
Wise Travel IPO
Cab operator Wise Travel India IPO opens on Monday, February 12, 2024 and closes on February 14, 2024 with a fresh issue of 6441000 shares in the price band of RS 140-147 per unit to raise Rs 94.68 crore.
WTIcabs has a fleet of 6,997 cabs and 784 staffers. The company reported H1FY23 net profit of Rs 11.36 crore and Rs 190.18 crore in total revenue. Net proceeds will be used as working capital and for general corporate purposes.
The IPO is expected to be listed on the NSE Emerge index on February 19, 2024. As of February 9, 2024, WTI Cabs IPO GMP stood at Rs 135, indicating a listing price of Rs 282 apiece.
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