Vibhor Steel Tubes IPO allotment expected on February 16: Here’s how to check status

Vibhor Steel Tubes' initial public offer (IPO) closed with a bumper subscription on Thursday. The public issue was subscribed 299 times on the third and final day of subscription on February 15.

Vibhor Steel Tubes IPO received bids for 107.36 crore shares as against 35.93 lakh shares on offer. The IPO subscription was open from February 13 to February 15.

Vibhor Steel Tubes plans to raise ₹72.17 crore through the IPO. The public issue entirely comprises fresh issue of shares and no offer for sale (OFS) component. The company will use the proceeds from the public issue for general corporate purposes and working capital requirements.

With the subscription process completed, the Vibhor Steel Tubes IPO allotment status will be finalised on Friday, February 16. The investors, who have submitted bids during the IPO subscription, can check the allotment status online through the official websites of BSE and the registrar.

KFIN Technologies Ltd has been appointed as the registrar while Khambatta Securities Ltd is the sole book-running and lead manager for the Vibhor Steel Tubes IPO.

How to check Vibhor Steel Tubes IPO share allotment status

The subscribers can check the Vibhor Steel Tubes Ltd IPO allotment status on BSE by using their PAN details.

• Open the official website of BSE at https://www.bseindia.com/investors/appli_check.aspx
• Select the issue type 'equity' on the homepage.
• Select Vibhor Steel Tubes Limited as the issue name from the drop-down menu.
• Enter the required details including the IPO application number or PAN details.
• Select the ‘Captcha’ and click on the search button.

The allotment details will be displayed on your screen.

How to check Vibhor Steel Tubes IPO allotment status on the official registrar’s website

• Log on to https://www.kfintech.com/.
• Under the products section on the homepage, click on investors and go to the IPO allotment section.
• Next, click on the Link 1 button and you will be redirected to a new page.
• Click on Vibhor Steel Tubes from the dropdown menu under select IPO. The name of the company will appear in the list only after the finalisation of share allotment.
• Next, enter the required credentials including PAN details, the IPO application number, DP/Client ID, and bank account number/IFSC for the customer identification process.
• Click on Submit.

The allotment status will appear on the screen. In case of successful bidders, the number of shares will also be displayed on the screen.

The crediting of shares to the demat account of the allottees will begin on February 19 along with refunds for investors who could not secure the shares. Vibhor Steel Tubes Limited shares are likely to be listed on BSE and NSE on February 20.

Vibhor Steel Tubes IPO subscription details

The Vibhor Steel Tubes IPO price band was set at ₹141 to ₹ 151 per piece at a face value of ₹ 10.

Vibhor Steel Tubes IPO received blockbuster subscriptions across segments, getting fully subscribed on the first day of application. The company received bids for 18,18,47,952 shares as against 10,17,441 shares on offer under the qualified institutional buyer (QIB) quota. The QIB segment was subscribed 178.73 times. The non-institutional investor (NII) section was subscribed 721 times with demand for 55,03,91,094 shares as against 7,63,023 shares on offer. The retail segment also saw a huge demand with 188.17 times subscription. Bids of 33,50,18,772 shares were received compared to 17,80,386 shares on offer. The employee portion of the IPO was also oversubscribed 210.49 times.

The company raised ₹ 21.5 crore through an anchor round of investment ahead of the public issue.

Vibhor Steel Tubes is engaged in the business of manufacturing, exporting and supplying steel pipes and tubes to various heavy industries. The company's clientele includes names like G.B.M Building Equipments SRL, Jindal Pipes, Mick D.O.O, Sudferrum GMBH & CO.KG, and BLA Udyog.