Vibhor Steel Tubes shares make bumper debut, stock lists at premium of 181%

Vibhor Steel Tubes Share Price: Vibhor Steel Tubes Share Listing Price NSE, BSE: Shares of steel pipe manufacturer Vibhor Steel Tubes Limited made a stellar debut on Tuesday and got listed with a huge premium of 181 per cent on the National Stock Exchange (NSE) against the issue price of Rs 151.

The stock made its debut at Rs 425, climbing 181.46 per cent from the issue price on the NSE. Similarly, the shares list at Rs 421 reflecting a rally of 178.81 per cent from the issue price. Soon after the listing, the stock further zoomed to Rs 442 apiece on the bourse to hit the upper circuit of 5 per cent.

Earlier, Vibhor Steel Tubes' IPO got an impressive response from investors and was subscribed nearly 300 times on the final day, driven by overwhelming participation from institutional investors.

The Haryana-based Vibhor Steel Tubes's initial public offering (IPO) comprised 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.

Proceeds from the issue will be utilised by the company for working capital requirements and general corporate purposes. Founded in 2003, Vibhor Steel Tubes Ltd (VSTL) is a manufacturer of high-quality steel tubes and pipes that are used in various heavy engineering industries in India.

In the morning trade, the company's market valuation stood at Rs 838.14 crore on the BSE.

In the morning session, the 30-share BSE Sensex benchmark rose 88.40 points or 0.12 per cent to 72,796.56, while NSE Nifty is marginally higher by 15 points to 22,122.10.