Vibhor Steel Tubes IPO gets subscribed over 8 times within first few hours of day 1; Here’s all you need to know
Vibhor Steel Tubes opened its IPO subscription for retail investors on February 13 and got over 29 million shares bid within two hours of opening the issue. This is over eight times the offered shares. The company has set the price band at Rs 141 – 151 to raise Rs 72.17 crore. The bidding will close on February 15.
The minimum lot size for a retail investor is 99 shares summing to Rs 14,949 at the upper band of the IPO. The shares of the company will be listed on both the bourses, NSE and BSE.
The company has raised Rs 21.52 crore from the anchor investors by offering 1.4 million shares out of 4.7 million shares.
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Three new IPOs hit the market today; Cello World opens with GMP up 18%
Cello World IPO: Cello World IPO opened for public subscription today and will close on Wednesday, November 1, 2023. The bidding for anchor investors concluded on Friday, wherein the company collected Rs 567 crore. The price band for its public issue at Rs 617-648 per equity share of face value Rs 5 each. Ahead of the public issue, Cello World shares’ grey market premium (GMP) rose 18.52%, over the upper end of the share price on offer.
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The IPO comprises a fresh issue of 29,320,987 equity shares aggregating up to Rs 1,900 crore and an Offer-For-Sale (OFS) with promoters offloading 29,320,987 shares aggregating up to Rs 1,900 crore. For potential investors, the bidding starts at a minimum of 23 equity shares, with subsequent bids in multiples of 23 equity shares. The shares are likely to get credited on Wednesday, November 8, 2023, and listed on …