Sambhv Steel Tubes IPO Listing: New Iron & Steel Stock Debuts At 34.3% Premium On BSE; Check Price, Outlook

Sambhv Steel Tubes is the new entrant on the mainboard BSE and NSE in the iron and steel sector. On its debut day, Sambhav Steel made a strong listing of 34.3% premium on BSE and 34.1% on NSE.

Sambhav Steel Tubes Share Price BSE:

On BSE, the stock debuted at a 34.26% premium to open at Rs 110.10 apiece, compared to its IPO issue price of Rs 82. The stock's 52-week high and low are at Rs 110.89 apiece and Rs 96.17 apiece respectively.

Sambhav is listed under the B category on BSE, and it has 20% circuit limits. The upper and lower circuits of Sambhav are currently is at Rs 132.12 apiece and Rs 88.08 apiece, respectively.

At the time of writing, the stock traded at Rs 99.06 apiece, up by 20.80% from its IPO price. However, the stock was down by 10.03% from its listing price. Currently, it has a market cap of Rs 2,919.02 crore.

Sambhav Steel Tubes Share Price NSE:

On NSE, Sambhav Steel listed at 34.15% to Rs 110 apiece, compared to the IPO price. At the time of writing, the stock traded at Rs 99.52 apiece, up by 21.4% from the IPO price, but down by 10.5% from the listing price.

The market cap is around Rs 2,932.57 crore.

Here, the stock's 52-week high and low are at Rs 111 apiece and Rs 96.25 apiece respectively.

Sambhav Steel Tubes launched its Rs 540 crore IPO from June 24 to June 27. The IPO had received a strong subscription of 30.33 times on its final day.

Earlier, Choice Broking's note said, "Sambhv Steel Tubes Ltd is a leading Indian manufacturer of ERW steel pipes and structural tubes (hollow sections), ranked by installed capacity as of FY24. Leveraging a backwards-integrated manufacturing setup, the company has evolved from producing sponge iron in 2018 to offering a wide range of value-added products. As of FY24, it holds approximately 2% market share in India's ERW pipe segment (by sales volume) and has carved a niche in the narrow-width HR coil-based ERW pipe segment, catering to industries such as automotive, electricals, furniture, and fitness equipment."

Backed by fully integrated operations and inhouse manufacturing capabilities, Choice Broking's note added, "the company is well-positioned to capitalize on this sectoral growth. While there may be short-term pressure on margins, the company's ongoing expansion and favorable industry dynamics point to strong long-term growth potential."

Sambhv Steel Tubes Ltd. (SSTL), the backward-integrated manufacturers of electric resistance welded ("ERW") steel pipes and structural tubes (hollow section).