Sambhv Steel Tubes IPO listing tomorrow: Here’s what GMP, subscription status hint ahead of debut

Sambhv Steel Tubes IPO listing date has been scheduled for tomorrow (Wednesday, June 25). Sambhv Steel Tubes IPO allotment was finalised yesterday (Monday, June 30). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Tuesday, July 1. The process of refunding those who have not yet received their shares will likewise be finished today.

Sambhv Steel Tubes IPO subscription status on the third day of bidding was 28.46 times, as BSE data. The retail segment saw a subscription of 7.99 times, while the NII segment was booked at 31.82 times. The Qualified Institutional Buyers (QIBs) portion attracted bids amounting to 62.32 times. The portion reserved for employees was subscribed 7.99 times.

Sambhv Steel IPO price band has been fixed in the range of ₹77 to ₹82 per equity share of the face value of ₹10. Sambhv Steel Tubes IPO date of subscription was scheduled from Wednesday, June 25, to Friday, June 27.

Sambhv Steel Tubes IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee reservation portion has been allocated equity shares aggregating up to ₹25 million.

The public offering includes a fresh issue of equity shares valued at ₹440 crore, in addition to a share sale (OFS) from the promoters totaling ₹100 crore. Nuvama Wealth Management Ltd and Motilal Oswal Investment Advisors Ltd act as the primary managers for this offering.

Sambhv Steel Tubes IPO GMP today is +13. This indicates Sambhv Steel Tubes share price was trading at a premium of ₹13 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sambhv Steel Tubes share price is indicated at ₹95 apiece, which is 15.85% higher than the IPO price of ₹82.

According to the analysis of grey market activities over the past 19 sessions, today's IPO GMP is showing an upward trend and is anticipated to have a solid listing. The minimum GMP recorded is ₹0.00, whereas the maximum GMP reaches ₹14, as stated by experts from investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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