Sambhv Steel Tubes IPO makes strong debut, shares list at 34.1% premium; Check how much investors made

Shares of Sambhv Steel Tubes made a spectacular trading debut on Wednesday, July 2, with the stock listing at a 34.1% premium on the NSE.

Sambhv Steel Tubes stock opened for trading at ₹110 per share on NSE compared to IPO issue price of ₹82 per share. The stock also made its debut at a premium of 34.2% at ₹110.1 on the BSE.

The Sambhv Steel Tubes stock opened the session at ₹110 apiece, up 34.1% compared to its initial public offering (IPO) price of ₹82 per share. Within minutes of trade, the share price rose further to a day high of 111 apiece.

More than 3.4 crore shares of the company changed hands on the platform in the first 20 minutes of trade. The traded value was ₹356 crore, and the market capitalisation stood at ₹2,923 crore.

Sambhv Steel Tubes shares opened the trading session at a price of ₹110 apiece on the NSE, compared to its IPO price of ₹82 apiece. This means a straight profit of ₹28 on a single share of the company that was allotted in the primary issue. However, since the lot size, or the minimum bid quantity, to apply for the Sambhv Steel Tubes IPO was 182 shares, it translates into listing gains of ₹5,096 (₹28 x 182) per lot.

Hence, retail investors would be sitting on listing gains of at least ₹5,096 as soon as the Sambhv Steel Tubes stock started trading on exchanges.

The ₹540-crore Sambhv Steel Tubes IPO was subscribed more than 29 times during its three-day bidding period from June 24 to June 27. The retail portion was subscribed 8.5 times, while the NII category was overbooked 33 times. The qualified institutional buyers (QIB) portion was overbid 66 times.