Sambhv steel tubes IPO: The IPO of possible Steel Tubes Limited will open on June 25 to bid. According to the company RHP, the goal of this public issue is to raise ₹ 540 crore. The bid for anchor investors will open on Tuesday, June 24 and the IPO will be closed on 27 June. In this IPO, fresh equity shares of ₹ 440 crore will be issued and the company’s promoter and promoter group shareholders will offer ₹ 100 crore for sale.
Price band and lot size
The price band of Sambhv Steel Tubes IPO has been fixed from ₹ 77 to ₹ 82. Investors can bid for minimum 182 equity shares. Investors will have to invest ₹ 14924 to bid in this IPO. Let us tell you that the eligible employees who bid in the reserve staff quota are being given a discount of ₹ 4 per share. 50% of this IPO is reserved for eligible institutional buyers (QIBS), 15% for non-institutional investors (NIIs) and 35% for retail investors. The money raised from the possible steel IPO will be used for debt payment and general corporate purposes.
The shares of possible steel tubes will be listed on BSE and NSE on 2 July. Nuwama Wealth Management Limited and Motilal Oswal Investment Advisors Limited are book running lead managers for this issue.
Detail of offer for sale
The ₹ 100 crore ofS component consists of shares sold by the following promoters:
₹ 10 crore by Shashank Goyal (Promoter Selling shareholder)
₹ 10 crore by Rohit Goyal (promoter selling shareholder)
₹ 35 crore by Kaushalya Goyal (Promoter Group Celling shareholder)
₹ 10 crore by Harshit Goyal (Promoter Group Celling shareholder)
₹ 35 crore by Rinku Goyal (other selling shareholder)
Possible Steel Tubes IPO’s latest GMP
According to experts monitoring the IPO market, the Steel Tubes IPO’s Gray Market Premium (Gmp) is 9.76% on June 20. That is, the bidding investors can see a gain of about 10 percent in case of listing.
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