Vibhor Steel Tubes IPO will open for subscription from 13 February 2024. The company aims for an issue size of ₹72.17 Cr through this IPO.
Company Overview
| Full name | Vibhor Steel Tubes Limited |
| Sector | Iron & Steel |
| Industry | Iron & Steel Products |
| Company Website | https://www.vstlindia.com/ |
About Company
The company is a manufacturer and exporter of Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hallow Steel Pipe, and Cold rolled Steel (CR) Strips/ Coils. It has experience of over 20 years and manufactures, exports, and supplies steel pipes and tubes to various heavy engineering industries in India. Vibhor Steel Tubes manufactures steel pipes and tubes in various shapes and sizes such as square, round, rectangular elliptical, or any special shape.
Vibhor Steel Tubes manufactures & supplies the finished goods for ‘Jindal Pipes Limited’ vide the renewed agreement dated 1 April 2023, under the brand name “Jindal Star”. The agreement is valid for 6 years and provides orders with a minimum quantity of 1,00,000 MT per annum to fill the majority capacity of Vibhor Steel Tubes.
The company has two manufacturing facilities. Unit I is located in Raigad, Maharashtra, used for domestic and export sales. Unit II is located around 70 km from Hyderabad in the Mahabubnagar District, State of Telangana, and close to the Jadcherla industrial area. This proximity enables ease of logistics, power, water supply, and raw materials.
The Objectives of the Issue
- Funding of working capital requirements of the company; and
- General corporate purposes.
Vibhor Steel Tubes IPO Timetable
| IPO Opening date | 13 February 2024 |
| IPO Closing | 15 February 2024 |
| Basis of Allotment | 16 February 2024 |
| Initiation Refund | 19 February 2024 |
| Credit to Demat Account | 19 February 2024 |
| Listing Date | 20 February 2024 |
Vibhor Steel Tubes IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹72.17 Cr – 4,779,444 shares |
| Fresh Issue | ₹72.17 Cr – 4,779,444 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹141 to ₹151 per share |
| Lot size | 99 Shares |
| Shareholding pre-issue | 14,183,000 |
| Listing Exchange | BSE & NSE |
Vibhor Steel Tubes IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 99 | ₹14,949 |
| Retail (Max) | 13 | 1287 | ₹194,337 |
| S-HNI (Min) | 14 | 1,386 | ₹209,286 |
| S-HNI (Max) | 66 | 6,534 | ₹986,634 |
| B-HNI (Min) | 67 | 6,633 | ₹1,001,583 |
Vibhor Steel Tubes IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,424,907 (29.81%) |
| QIB Shares Offered | 949,988 (19.88%) |
| NII (HNI) Shares Offered | 712,491 (14.91%) |
| bNII > ₹10L | 474,995 (9.94%) |
| sNII < ₹10L | 237,497 (4.97%) |
| Retail Shares Offered | 1,662,479 (34.78%) |
| Employee Shares Offered | 29,502 (0.62%) |
| Total Shares Offered | 4,779,367 (100%) |
Vibhor Steel Tubes Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 510.47 | 818.00 | 1,113.12 | 530.51 |
| Expenses | 507.35 | 803.12 | 1,086.15 | 519.89 |
| Net income | 0.69 | 11.33 | 21.07 | 8.52 |
| Margin (%) | 0.14 | 1.39 | 1.89 | 1.61 |
Vibhor Steel Tubes Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.49 | 7.99 | 14.85 |
| PE ratio | – | – | 9.49 – 10.17 |
| RONW (%) | 1.14 | 15.74 | 22.60 |
| NAV | 42.64 | 50.74 | 65.71 |
| ROCE (%) | 9.90 | 12.09 | 16.48 |
| EBITDA (%) | 3.90 | 3.69 | 4.21 |
| Debt/Equity | 1.23 | 1.77 | 1.63 |
Company Promoters
- Mr. Vijay Kaushik
- Mr. Vibhor Kaushik
- Mrs. Vijay Laxmi Kaushik
- M/s. Vijay Kaushik HUF.
Promoter Holding
| Pre Issue Share Holding | 98.24% |
| Post Issue Share Holding | – |
Vibhor Steel Tubes IPO Lead Manager(s)
KHAMBATTA SECURITIES LIMITED
806, World Trade Tower, Tower B,
Noida Sector-16, Uttar Pradesh-201301
Phone: +91 0120 4415469
Email: ipo@khambattasecurities.com
Website: www.khambattasecurities.com
Vibhor Steel Tubes Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: vibhor.ipo@kfintech.com
Website: www.kfintech.com
Vibhor Steel Tubes Contact Details
VIBHOR STEEL TUBES LIMITED
Plot No. 2, Industrial Development Colony,
Delhi Road, Hisar, Haryana-125005
Phone: +91 7030322880
Email: cs@vstlindia.com
Website: www.vstlindia.com
Vibhor Steel Tubes IPO Allotment Status
Vibhor Steel IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Vibhor Steel Tubes IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
