VIBHOR STEEL TUBES IPO : Company Profile, GMP, Price, Details

VIBHOR STEEL TUBES LIMITED COMPANY PROFILE :

• Vibhor Steel Tubes Limited specializes in manufacturing and exporting a variety of steel pipes and tubes, including Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hollow Steel Pipes, and Cold Rolled Steel (CR) Strips/Coils. With a manufacturing history spanning two decades, the company has established itself as a prominent supplier to various heavy engineering industries in India.
• The steel pipes and tubes produced by Vibhor Steel Tubes Limited find applications across diverse sectors. They are used for purposes such as frames and shafts in machinery, bicycle frames, furniture construction, shock absorbers, structural components, and various engineering applications. The company offers a wide range of products, ensuring versatility and suitability for different project requirements.
• In terms of specifications, the company manufactures steel pipes and tubes in various lengths, catering to the specific needs of customers. Additionally, the products come in different shapes and sizes, including square, round, rectangular, elliptical, or even custom shapes as per customer requirements. This flexibility in manufacturing ensures that Vibhor Steel Tubes Limited can meet the varied demands of its clientele across different industries.
• Vibhor Steel Tubes Limited is a manufacturer and exporter of the following products:
  1. ERW Pipes (Electric Resistance Welded Pipes)
  2. Hot-Dipped Galvanized Pipes
  3. Hollow Section Pipes & Painted Pipes
  4. Crash Barriers
• Vibhor Steel Tubes Limited has been collaborating with Jindal Pipes Limited since 2003. As per the renewed agreement dated April 01, 2023, Vibhor Steel Tubes Limited manufactures and supplies finished goods for Jindal Pipes Limited under the brand name “Jindal Star”. This collaboration operates under a long-term agreement spanning six (6) years.Under this agreement, Jindal Pipes Limited commits to providing orders with a minimum quantity of 1,00,000 metric tons per annum. These orders are intended to fill the majority capacity of Unit I and Unit II of Vibhor Steel Tubes Limited. This partnership underscores a significant and ongoing business relationship between the two companies, ensuring a steady supply of products to meet market demand.
• In November 2023, Vibhor Steel Tubes Limited received an allotment letter for land to establish a new facility in Odisha. This decision was made in recognition of Odisha being a significant market for iron, and establishing a presence there would offer several strategic advantages. By setting up a new facility in Odisha, Vibhor Steel Tubes Limited aims to reduce the cost of raw materials and improve margins in the future.

Vibhor Steel Tubes Limited IPO Information :

• Issue date: 13-Feb-2024 to 15-Feb-2024
• Price range: Rs. 141 to Rs. 151
• Issue size: ₹72.169 Crores
• Face value : Rs.10
• Bid lot (retail) : 1 lot – 99 Shares( 14,949 Rupees )
• Fresh issue : ₹72.169 Crores
• OFS : None
• Allotment date : 16-Feb-2024
• Listing date : 20-Feb-2024
• Promoter holding : 98.24 ( Pre – Issue )
• Name of registrar : KFin Technologies Limited
• IPO reservation : 35% ( Retail )

GMP(Expected): ₹125 ( Expected listing gains of  82.7 % )

VIBHOR STEEL TUBES LIMITED FINANCIAL INFORMATION :

The financial performance of VIBHOR STEEL TUBES LIMITED Company for the period ended September 30, 2023 & Fiscals 2023, 2022 are as follows:

OBJECTS OF THE ISSUE :

• Funding of working capital requirements of Company
• General corporate purposes