Vibhor Steel Tubes IPO
Vibhor Steel Tubes Limited (VSTL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 20 February 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +65.0% (likely range +40% to +131%), day's high +88.0%, chance of a gain 97%. Actual: +181.5% at the open, +195.5% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 10,17,441 | 18,18,47,952 | 179x | |
| NII (HNI) total | 7,63,023 | 55,03,95,252 | 721x | |
| Big NII (above ₹10 lakh) | 5,08,682 | 35,83,23,471 | 704x | |
| Small NII (₹2-10 lakh) | 2,54,341 | 19,20,71,781 | 755x | |
| Retail | 17,80,386 | 33,50,17,089 | 188x | |
| Employees | 31,595 | 63,65,700 | 201x | |
| Total | 35,92,445 | 1,07,36,25,993 | 299x |
Bids on NSE and BSE together, as published by NSE, as of 15 Feb 2024, 07:00 PM. Shares offered exclude the anchor portion. 27% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Vibhor Steel Tubes's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Latent View AnalyticsNov 2021 | 145x | 851x | 119x | 326x | ₹622 Cr | +160.0% | +178.2% |
| Astron Paper & Board MillsDec 2017 | 103x | 397x | 77.9x | 243x | ₹80.0 Cr | +130.0% | +141.5% |
| BLS E- ServicesFeb 2024 | 123x | 300x | 237x | 162x | ₹311 Cr | +125.9% | +171.1% |
| Motisons JewellersDec 2023 | 157x | 234x | 122x | 160x | ₹154 Cr | +98.2% | +99.6% |
| Nazara TechnologiesMar 2021 | 104x | 390x | 75.3x | 175x | ₹583 Cr | +80.7% | +83.9% |
| Apollo Micro SystemsJan 2018 | 102x | 958x | 40.2x | 249x | ₹162 Cr | +69.1% | +74.5% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Khambatta Securities | 4 | +65.4% | 100% |
Offer documents (NSE)
Frequently asked
What is the Vibhor Steel Tubes IPO price band and lot size? ₹141–151 per share, with a lot of 99 shares, so the smallest retail bid is ₹14,949.
How many times has it been subscribed? 299x overall: QIB 179x, NII 721x, retail 188x, employees 201x.
How did it list? It opened at ₹425, +181.5% against the issue price of ₹151, and closed its first day +195.5%.
