Overview

• The Rs 540 crore IPO comprised a Rs 440 crore fresh issue and a Rs 100 crore offer for sale at a Rs 77–82 price band
• Strong demand on the final subscription day drove a 30.33-times oversubscription after a subdued start
• On July 2, shares listed at Rs 110 on both BSE and NSE before trading settled around Rs 97, marking an 18% gain over the issue price
• Net proceeds will be used primarily to prepay outstanding borrowings with the balance allocated to general corporate purposes
• Sambhv Steel Tubes is among India’s largest ERW steel pipe and structural tube producers and stands to benefit from a projected 8–9% CAGR in domestic demand through FY29