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Vibhor Steel Tubes IPO garners 27.56 times subscription on Day 1 of offer
The initial public offer of steel pipes and tubes manufacturer Vibhor Steel Tubes got fully subscribed on the first day of bidding on Tuesday.
The IPO received bids for 9,89,99,604 shares against 35,92,445 shares on offer, garnering a 27.56 times subscription, as per NSE data.
The portion for non-institutional investors subscribed 48.28 times, while the quota for retail individual investors (RIIs) received 32.39 times subscription. The category for qualified institutional buyers (QIBs) got 3.56 times subscription.
On Monday, Vibhor Steel Tubes collected nearly Rs 22 crore from anchor investors.
The price band has been fixed at Rs 141-151 per share. The IPO will close on Thursday, February 15.
The Haryana-based Vibhor Steel Tubes's initial public offering (IPO) comprises a fresh issue of equity shares with a face value Rs 10 each, aggregating to an issue size of up to Rs 72.17 crore, through book building route.
Proceeds from the issue will be utilised for working capital requirem