Vibhor Steel Tubes IPO to open today. Should you subscribe?

The company aims to raise ₹72 crore through this IPO.

Published on: Feb 13, 2024, 09:17:29 IST

By HT News Desk, New Delhi

Prefer HTon Google

Share via

Copy link

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.

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.

Avinash Gorakshkar, Head of Research at Profitmart Securities, too gave a ‘subscribe’ tag.

Also Read: Entero Healthcare IPO to close today. To subscribe or not?

"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."

Additionally, Gorakshkar too advised investors to apply for listing gain.

(Disclaimer: Views of individual firms/analysts)

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Initial Public Offering

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.