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Steel pipes and tubes manufacturer Vibhor Steel Tubes has collected nearly ₹22 crore from anchor investors. The company has allotted a total of 14.24 lakh equity shares to three entities at ₹151 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website on Monday.
The anchor book saw participation from only three investors, Saint Capital Fund, Chhatisgarh Investments Ltd and Neomile Growth Fund - Series I. The issue with a price band of ₹141 to ₹151 per share, will open for public subscription on Tuesday. It will close on Thursday, February 15.
The Haryana-based Vibhor Steel Tubes's initial public offering (IPO) comprises a fresh issue of equity shares with a face value of ₹10 each, aggregating to an issue size of up to ₹72.17 crore, through the book-building route. Proceeds from the issue will be utilised for working capital requirements and general corporate purposes.
Founded in 2003, Vibhor Steel Tubes is a manufacturer of high-quality steel tubes and pipes that are used in various heavy engineering industries in India. Khambatta Securities is the sole book-running lead manager, and Kfin Technologies is the registrar to the IPO.
The company's shares will be listed on the National Stock Exchange (NSE) and BSE.
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