Vibhor Steel Tubes IPO

Vibhor Steel Tubes IPO is a book-built issue of Rs 72.17 crores. The issue is entirely fresh.

Vibhor Steel Tubes IPO opens for subscription on February 13, 2024, and closes on February 15, 2024. The IPO price band is set at ₹141 to ₹151 per share and the minimum lot size for an application is 99 Shares.

Company Summary

Vibhor Steel Tubes Limited, incorporated in 2003, manufactures and exports Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hallow Steel Pipe, and Cold rolled Steel (CR) Strips/ Coils across various heavy engineering industries in India.

The products which the company manufactures and exports are as follows

  • ERW Pipes
  • Hot-Dipped Galvanized Pipes
  • Hollow Section Pipes & Painted Pipes
  • Crash Barriers

They have also been working with Jindal Pipes Limited since 2003. They manufacture & supply the finished goods for “Jindal Pipes Limited” (“Jindal”) under the brand name “Jindal Star”.

Company Strengths

The Company benefits from a long-standing relationship with Jindal Pipes Limited. It started with Job work, which has now translated into full-time production of pipes (0.5 inches to 12 inches) for JPL under the brand “Jindal Star”.

As they sell their products under the brand name “Jindal Star” for Jindal Pipes Limited, they follow international standard manufacturing practices and their Manufacturing Facility benefits from quality benchmarking certifications such as (i) ISO 9001:2015, (ii) IS 1239:2004, IS 3601:2006, IS 3589:2001.

The Company has customers in domestic as well as international markets, as of September 30, 2023, they exported to around 10 countries across the globe.

Company Financials

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax8.5221.0711.330.69
Net Worth101.7693.2071.9760.49
Total Borrowing160.27126.83106.0758.74

Amount in crore

Objectives of the issue

The company intends to utilise the Net Proceeds of the Issue towards

  • Funding of working capital requirements of our Company.
  • General corporate purposes.

Promoters of the company

Mr. Vijay Kaushik, Mr. Vibhor Kaushik, Mrs. Vijay Laxmi Kaushik and M/s Vijay Kaushik HUF are the Promoters of our Company. The Promoters are currently holding an aggregate of 1,32,46,500 Equity Shares, aggregating to 93.40% of the pre-Issue issued, subscribed and paid-up Equity Share capital of the Company.

IPO details

IPO DateFebruary 13, 2024 to February 15, 2024
Listing DateTuesday, February 20, 2024
Face Value₹10 per share
Price Band₹141 to ₹151 per share
Lot Size99 Shares
Total Issue Size47,79,470 shares approximately (aggregating up to ₹72.17 Cr)
Fresh Issue47,79,470 shares approximately (aggregating up to ₹72.17 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE

Lot Allocation details

Retail (Min)199₹14,949
Retail (Max)131287₹194,337
Large-HNI (Min)676633₹1,001,583

Allotment Schedule

Basis of AllotmentFriday, February 16, 2024
Initiation of RefundsMonday, February 19, 2024
Credit of Shares to DematMonday, February 19, 2024
Listing DateTuesday, February 20, 2024
Cut-off time for UPI mandate confirmation5 PM on February 15, 2024

IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50.00% of the Net offer
Retail Shares OfferedNot less than 35.00% of the Offer
NII (HNI) Shares OfferedNot less than 15.00% of the Offer

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