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IPO News

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(16 Feb 2024, 17:27)

Vibhor Steel Tubes IPO ends with blockbuster subscription

The offer received bids for 107.36 crore shares as against 0.35 crore shares on offer.

The initial public offer (IPO) of Vibhor Steel Tubes received 1,07,36,25,993 bids for shares as against 35,92,445 shares on offer. The issue was subscribed 298.86 times.

The Non Institutional Investors (NIIs) category was subscribed 721.34 times. The Retail Individual Investors (RIIs) category was subscribed 188.17 times. The Qualified Institutional Buyers (QIBs) category was subscribed 178.73 times.

The issue opened for bidding on 13 February 2024 and it closed on 15 February 2024. The price band of the IPO was fixed at Rs 141 to 151 per share.

The offer comprised only of fresh issue of equity shares aggregating up to Rs 72.16 crore.

The company proposed to utilize the net proceeds from the fresh issue towards funding working capital requirements of the company amounti...

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