Latest News | Vibhor Steel Tubes Garners Rs 22 Cr from Anchor Investors
Get latest articles and stories on Latest News at LatestLY. Steel pipes and tubes manufacturer Vibhor Steel Tubes has collected nearly Rs 22 crore from anchor investors.
New Delhi, Feb 12 (PTI) Steel pipes and tubes manufacturer Vibhor Steel Tubes has collected nearly Rs 22 crore from anchor investors.
The company has allotted a total of 14.24 lakh equity shares to three entities at Rs 151 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE wesbite on Monday.
The anchor book saw participation from only three investors, Saint Capital Fund, Chhatisgarh Investments Ltd and Neomile Growth Fund - Series I.
The issue with a price band of Rs 141 to Rs 151 per share, will open for public subscription on Tuesday. It will close on Thursday, February 15.
The Haryana-based Vibhor Steel Tubes's initial public offering (IPO) comprises a fresh issue of equity shares with a face value Rs 10 each, aggregating to an issue size of up to Rs 72.17 crore, through book building route.
Proceeds from the issue will be utilised for working capital requirements and general corporate purposes.
Founded in 2003, Vibhor Steel Tubes is a manufacturer of high-quality steel tubes and pipes that are used in various heavy engineering industries in India.
Khambatta Securities is the sole book running lead manager, and Kfin Technologies is the registrar to the IPO.
The company's shares will be listed on the National Stock Exchange (NSE) and BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)