Sambhv Steel Tubes shares rally 6.5% on second day of listing; check details

Last seen, the stock was trading at ₹102.30 per share on the National Stock Exchange, rising 4.83%. It had soared 6.5% to hit an intraday high of ₹104 per share after opening at ₹99.27 on Thursday.

With the traded value of ₹172.16 crore, the market capitalisation of the company stands at ₹3,014.49 crore.

Sambhv Steel Tubes IPO made a strong debut on stock exchanges, listing at ₹110 per share, a premium of 34.1%, compared to its initial public offering (IPO) price of ₹82 per share.

The ₹540 crore initial share sale was subscribed 28.46 times, with bids for 140,02,39,022 equity shares against 4,92,06,100 shares on offer, as per the data on the NSE portal.

Qualified Institutional Buyers (QIBs) led the bidding, subscribing their portion 62.32 times, while the quota for non-institutional investors (NIIs) attracted 31.82 times subscription. The part for retail investors received 7.99 times subscription.

Before the IPO, the company had mobilised ₹161.25 crore from anchor investors.

The initial public offer was a mix of fresh issuance valued at ₹440 crore and an offer-for-sale of shares aggregating to ₹100 crore by promoters. The price range was set at ₹77 to ₹82 per share.

Incorporated in 2018, Sambhv Steel Tubes Limited is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India. The company operates two manufacturing facilities located in Chhattisgarh.

The company produces narrow-width HR coil, which allows the manufacturing of ERW black pipes and tubes of varying thickness as per customer requirements, reducing dependency on external HR coil suppliers and providing a competitive advantage.

As of December 31, 2024, the company operates through 37 distinct distributors, with 2 distributors distributing through 6 branches, taking the total distributor network to 43 across 15 states and 1 union territory. These distributors further distribute finished products through over 700 dealers in India.