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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 Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 376.48 | 293.63 | 248.54 | 172.93 |
| Revenue | 531.24 | 1,114.38 | 818.48 | 511.51 |
| Profit After Tax | 8.52 | 21.07 | 11.33 | 0.69 |
| Net Worth | 101.76 | 93.20 | 71.97 | 60.49 |
| Total Borrowing | 160.27 | 126.83 | 106.07 | 58.74 |
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 Date | February 13, 2024 to February 15, 2024 |
| Listing Date | Tuesday, February 20, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹141 to ₹151 per share |
| Lot Size | 99 Shares |
| Total Issue Size | 47,79,470 shares approximately (aggregating up to ₹72.17 Cr) |
| Fresh Issue | 47,79,470 shares approximately (aggregating up to ₹72.17 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 99 | ₹14,949 |
| Retail (Max) | 13 | 1287 | ₹194,337 |
| Small-HNI(Min) | 14 | 1386 | ₹209,286 |
| small-HNI(Max) | 66 | 6534 | ₹986,634 |
| Large-HNI (Min) | 67 | 6633 | ₹1,001,583 |
Allotment Schedule
| Basis of Allotment | Friday, February 16, 2024 |
| Initiation of Refunds | Monday, February 19, 2024 |
| Credit of Shares to Demat | Monday, February 19, 2024 |
| Listing Date | Tuesday, February 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 15, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
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