On February 20, Vibhor Steel Tubes had an impressive entry into the market, with its shares closing at a significant premium of 193 percent compared to the issue price of Rs. 151.
The stock debuted at Rs. 421, showcasing a remarkable increase of 178.81 percent from the initial price on the BSE. Ultimately, the stock settled at Rs. 442, marking a substantial gain of 192.72 percent over the IPO price.
Vibhor Steel Tubes shares debuted on the NSE at Rs. 425, showing a significant premium of 181.46% compared to the issue price. The day ended with the stock trading at Rs.446.25 per share.
Throughout the day, a total of 22.22 lakh equity shares were exchanged on the NSE, with 1.10 lakh shares being traded on the BSE. By the end of the trading session, the company's market capitalization on the BSE was recorded at Rs. 838.14 crore.
At the end of the session, the company's market valuation stood at Rs. 838.14 crore on the BSE.
On Tuesday, the BSE Sensex benchmark rose by 349.24 points, or 0.48 percent, reaching 73,057.40, while the NSE's Nifty reached a new all-time high of 22,196.95 after increasing by 74.70 points.
This level of subscription is a clear indication of the strong demand for Vibhor Steel Tubes' shares among institutional investors. The overwhelming response from these investors demonstrates their confidence in the company's growth prospects and potential for strong returns.
The high subscription rate also reflects the positive sentiment towards the overall market conditions and the attractiveness of the IPO. With such strong institutional support, Vibhor Steel Tubes is well-positioned to make a successful debut on the stock exchange and capitalize on the momentum generated by the IPO.
Established in 2003, Vibhor Steel Tubes (VSTL) is an esteemed producer of top-notch steel tubes and pipes, catering to the diverse needs of numerous heavy engineering sectors within India.
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