Overview

• Sambhv Steel Tubes’ IPO closed with a 1.5x subscription on Day 3, driven by 2.16x bids from retail investors and 4.41x from non-institutional participants while QIBs subscribed 0.17x.
• Allotment is scheduled for June 30 and the shares will debut on both BSE and NSE on July 2.
• The ₹540 crore issue comprises a ₹440 crore fresh equity sale and a ₹100 crore promoter offer for sale at a ₹77–82 price band, with eligible employees receiving a ₹4 per share discount.
• Net proceeds will retire portions of the company’s ₹619 crore borrowings as of December 2024 and fund general corporate purposes.
• Brokerages have broadly recommended subscribing to the IPO, highlighting the expanded Sarora, Chhattisgarh facility and an expected 8–9% CAGR in domestic steel pipe demand through FY29.