Vibhor Steel made a great entry into the stock market, investors got huge profits
Share Market Listing Today, shares of steel pipe manufacturer Vibhor Steel Tubes have been listed. Last week the company opened its IPO. Today the company's shares were listed with a huge premium of 181 percent. The company's shares rose 192.72 per cent to Rs 442 in the market. Let us know in detail in this report.
In the stock market, the listing phase is still ongoing. Vibhor Steel Tubes, a manufacturer of steel pipes, has listed its shares on the stock market today. The shares of the company were listed at a significant 181% premium over the Rs 151 issue price.
On the NSE, the stock opened at Rs 425, up 181.46% from the issue price. The company's shares debuted on the BSE at Rs 421 concurrently. Compared to the issue price, this indicates a 178.81 per cent increase.
It went up to Rs 442 by 192.72 per cent. In morning trade, the company's market valuation on the BSE was Rs 838.14 crore.
In this morning's session, the benchmark BSE Sensex rose 88.40 points or 0.12 per cent to 72,796.56, while the NSE Nifty was up marginally 15 points at 22,122.10.
Institutional investors showed tremendous participation in Vibhor Steel Tubes' IPO last week. On the final day of the IPO, institutional investors subscribed nearly 300 times.
Equity shares worth Rs 10 each were made available in Vibhor Steel Tubes' initial public offering (IPO) in Haryana. It used the book-building method to get to an issue size of up to Rs 72.17 crore.
The money raised from the issue will be used by the business for general corporate purposes and working capital needs.
In 2003, Vibhor Steel Tubes Limited (VSTL) was founded. It is a producer of premium steel pipes and tubes. In India, it is employed in several heavy engineering sectors.
