Sambhv Steel Tubes made an impressive debut on the Indian stock exchanges, listing at a 34% premium over its IPO price. The stock opened at ₹110 on the NSE and ₹110.10 on the BSE, well above its issue price of ₹82 per share.
Sambhv Steel Tubes’ strong listing mirrored robust IPO demand, with the issue subscribed 28.46 times
Sambhv Steel Tubes made an impressive debut on the Indian stock exchanges, listing at a 34% premium over its IPO price. The stock opened at ₹110 on the NSE and ₹110.10 on the BSE, well above its issue price of ₹82 per share.
The listing was also stronger than what market experts had expeted. Ahead of its debut, the stock had been commanding a grey market premium (GMP) that pointed to gains of around 17% but the actual listing came in well above those expectations.
Post-listing, some investors rushed to make in partial profits off of the solid listing, pulling shares of Sambhv Steel off their record highs of Rs 111.
The strong listing of Sambhv Steel Tubes reflects the overwhelming investor demand seen during its IPO. According to BSE data, the public issue was subscribed 28.46 times on the final day of bidding.
Among investor categories, Qualified Institutional Buyers (QIBs) led the way, with their quota subscribed 62.32 times. Non-Institutional Investors (NIIs) followed closely, subscribing 31.82 times, while the retail investor segment and the employee quota were both subscribed 7.99 times.
The IPO comprised a fresh issue of equity shares worth ₹440 crore, along with an offer for sale (OFS) of ₹100 crore by the promoters. The company appointed Nuvama Wealth Management Ltd and Motilal Oswal Investment Advisors Ltd as the lead managers for the offering.
Ahead of the IPO, Sambhv Steel Tubes allotted 1.96 crore shares to anchor investors at ₹82 per share. The anchor book drew interest from both domestic and global institutions, including Whiteoak Capital MF, Ashoka India, Motilal Oswal MF, Niveshaay Sambhav Fund, and international players like Citigroup, Nomura Singapore, Societe Generale, and BNP Paribas Financial Markets.
A major portion of the proceeds, around ₹390 crore, will go towards debt reduction, with the remainder allocated for general corporate purposes. As of April 2025, the company’s total outstanding borrowings stood at ₹554.6 crore.
With solid support from institutional investors and a strong opening on the bourses, Sambhv Steel Tubes enters the listed space on a confident note.