Vibhor Steel Tubes Collects Rs 22 Crore from Anchor Investors Before IPO Launch

New Delhi, February 12: Vibhor Steel Tubes, a leading manufacturer of steel pipes and tubes, has successfully raised nearly Rs 22 crore from anchor investors ahead of its initial public offering (IPO).

Representative image

Anchor Investors

The company allotted a total of 14.24 lakh equity shares to three entities at Rs 151 per share, which is the upper end of the price band. The anchor book saw participation from only three investors: Saint Capital Fund, Chhatisgarh Investments Ltd, and Neomile Growth Fund - Series I.

IPO Details

The issue, with a price band of Rs 141 to Rs 151 per share, will open for public subscription on Tuesday, February 13, and close on Thursday, February 15. The Haryana-based company's IPO comprises a fresh issue of equity shares with a face value of Rs 10 each, aggregating to an issue size of up to Rs 72.17 crore, through the book building route.

Utilization of Proceeds

The proceeds from the issue will be utilized for working capital requirements and general corporate purposes.

About Vibhor Steel Tubes

Founded in 2003, Vibhor Steel Tubes is a prominent manufacturer of high-quality steel tubes and pipes used in various heavy engineering industries in India. The company has a strong track record of growth and profitability.

Listing and Advisors

Khambatta Securities is the sole book running lead manager, and Kfin Technologies is the registrar to the IPO. The company's shares will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

The successful anchor investment in Vibhor Steel Tubes reflects the strong investor interest in the company's growth prospects. The IPO is expected to generate significant interest from retail and institutional investors alike.