Sambhv Steel Tubes IPO Allotment Today: Check GMP, Listing Date, Price Prediction, Other Details
The GMP of the Sambhv Steel Tubes IPO has increased to 17.07% currently; its allotment will be finalised today; here's a step-by-step guide to check your allotment status.
Sambhv Steel Tubes IPO Allotment Date: The allotment of the Sambhv Steel Tubes IPO is going to be finalised today, Monday, June 30. The issue received a strong 30.33x subscription on the final day of bidding on Friday, amid a decent GMP. Its grey market premium remains at 17.07% and signals decent listing gains for investors.
However, brokerage reports have recommended the company for the long-term play due to its fully backward integration. As the issue has closed, investors are awaiting its allotment.
The allotment of the Sambhv Steel Tubes IPO is scheduled to be finalised today, Monday, June 30.
Once the IPO allotment is finalised, investors will start receiving bank debit messages, most probably in the evening on June 30. They can also check their allotment status on the websites of the NSE as well as registrar Kfin Technologies. The allotment status can be checked by following these steps:
1) Go to the official BSE website via the URL — https://www.bseindia.com/investors/appli_check.aspx.
2) Under 'Issue Type', select 'Equity'.
3) Under 'Issue Name', select 'Sambhv Steel Tubes Ltd' in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the 'I am not a robot' to verify yourself and hit the 'Search' option.
You can also visit directly on the registrar Kfin Technologies' portal — https://ipostatus.kfintech.com/ and check the Sambhv Steel Tubes IPO allotment status.
The allotment status can also be checked on the NSE's website at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids.
According to market observers, the GMP of the Sambhv Steel Tubes IPO has increased to 17.07% currently.
At the currently grey market premium of Rs 14, the company's shares are likely to be listed at Rs 96 apiece as compared with the issue price of Rs 82 per share.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Sambhv Steel Tubes IPO Listing Date
The listing of Sambhv Steel Tubes Ltd's shares will take place on Wednesday, July 2, on both BSE and NSE.
The IPO consists of a fresh issue of equity shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore by the company's promoter and promoter group shareholders.
It was open for public subscription between June 25 and June 27. On the final day of bidding on Friday, the Sambhv Steel Tubes IPO received a 30.33 times subscription, garnering bids for 1,40,13,19,920 shares as against the 6,58,69,293 shares on offer. The retail and NII participation stood at 8.56 times and 33.88 times, respectively. Its qualified institutional buyer (QIB) category got a 66.36 times subscription.
The price band was fixed at Rs 77 to Rs 82 per equity share of face value Rs 10 each.
Most brokerage firms gave 'subscribe' recommendations to the IPO, with most advising investors to take a long-term view due to Sambhv Steel's backward integration, new capacity ramp-up, and strong product portfolio. They added that growth prospects and debt reduction post IPO offer a compelling long-term case.
As per the RHP, Sambhv Steel intends to use the net proceeds from the fresh issue primarily for pre-payment or scheduled repayment of certain outstanding borrowings, and the remaining amount will go towards general corporate purposes.
Sambhv Steel Tubes is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024.
According to a Crisil report, the demand for domestic steel pipes and tubes is expected to have grown at a compound annual growth rate (CAGR) of 5-6 per cent to 12.50-13.50 million tonnes per annum (MTPA) in FY25 from 8.8 MTPA in FY19.
The growth was led by government initiatives to augment urban structural infrastructure and to infuse investments in the oil and gas sector.
Going forward, domestic steel pipe demand is projected to increase to 18.50-20.50 MTPA in FY29 at 8-9 per cent CAGR between FY25 and FY29 on a high base, the report added.
Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers (BRLMs) to the issue.
First Published:
News business » ipo Sambhv Steel Tubes IPO Allotment Today: Check GMP, Listing Date, Price Prediction, Other Details
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
37 minutes ago
- Time of India
MSME directorate takes Duare Sarkar route to reach out to bizmen
Kolkata: The Direcorate of Micro, Small & Medium Enterprises has started to reach out to entrepreneurs in rural districts of the state through Duare Sarkar Camps and register them on the Udyam portal, so that they can come under different schemes and benefits, including MSME loans. Tired of too many ads? go ad free now At the camps, the directorate has also been distributing the West Bengal Bhabishyat Credit Cards to eligible micro and small entrepreneurs. With this, an entrepreneur can apply for a loan of up to Rs 5 lakh. At an event on Monday, special secretary to MSME textile department Susmita Mukherjee said: "Bengal has the second largest number of MSMEs in the country but registration on the Udyam portal from this state is still very low. Centre has raised concerns over this. There are plenty of entrepreneurs in the state, and we are reaching out to them for registration on the Udyam portal through Duare Sarkar camps." The state is planning to roll out new policies to boost the MSME sector in the future, Mukherjee added. The directorate is holding camps in various districts to generate awareness about various MSME schemes, she said.
India.com
37 minutes ago
- India.com
BH Series Number Plates: What It Is, Who Can Get It And Why It Matters
New Delhi: A job that keeps moving. A life split between cities. Frequent state transfers. For many, this is routine. For such people, vehicle paperwork turns into a headache. The BH series number plate offers a solution. The government introduced this system in August 2021. It only applies to newly purchased private vehicles. Commercial vehicles are excluded. The plate looks like any other, except for the letters 'BH' – an abbreviation of Bharat. The format is simple – the year of registration, followed by 'BH', then four digits and finally two letters denoting vehicle category. For example, 22BH 4567AB. The difference lies in the flexibility. Regular number plates are state-specific. BH plates are valid nationwide. No matter where you go, you do not need to re-register. This means fewer rules to track, fewer forms to fill and fewer risks of getting penalised. It also helps with insurance. If your vehicle is not properly registered in the state you are in, insurance claims can get rejected. With BH plates, this worry disappears. There is a financial angle too. With regular plates, buyers must pay road tax upfront usually for 15 years. With a BH plate, road tax is paid in two-year blocks. Every two years, you renew. Tax is calculated on the vehicle price, excluding GST. Selling the vehicle also becomes easier. You can sell it to someone in any state without worrying about registration hassles. The BH plate stays valid. So who can get one? According to a 2023 press release from the Press Information Bureau, 26 states and union territories have implemented the BH series registration. Eligible individuals include central and state government employees, defence personnel, employees of public sector banks and civil services staff. Private-sector professionals can apply too, but only if their company has offices in four or more states or union territories. The application process is online. No RTO visit needed. Applicants can either log in to the Ministry of Road Transport's VAHAN portal or go through an authorised automobile dealer. Private sector employees need to submit Form 60, a work certificate and employment ID. Documents are verified. The RTO then approves the request. After paying the required motor vehicle tax, the BH registration is generated. What about downsides? Auto experts say the benefits far outweigh any drawbacks. But a few concerns exist. If the vehicle was purchased on a loan, banks may ask for a No Objection Certificate. Some banks have not yet updated their policies for BH plates. Also, switching back to a regular state-specific plate later can be a long process. Tax slabs for BH plates vary. Vehicles under Rs 10 lakh attract 8% tax. Those between Rs 10-20 lakh fall under 10%. Anything above that is taxed at 12%. Diesel vehicles attract 2% extra, while electric vehicles get a 2% rebate. In short, for people on the move, the BH number plate brings relief. It simplifies the journey. Cuts the red tape. And gives your car the freedom to move with you.
Time of India
an hour ago
- Time of India
Gandhis conspired to usurp Rs 2k crore co: ED in Herald case
NEW DELHI: ED on Wednesday told a special court that former Congress presidents Sonia and Rahul Gandhi wanted to take over a Rs 2,000 crore company - Associated Journals Limited (AJL) - that once published party organ National Herald. Tired of too many ads? go ad free now The agency, through additional solicitor general (ASG) SV Raju, submitted before the court of Special Judge Vishal Gogne that a conspiracy was hatched to create Young Indian Pvt Ltd, a not-for-profit company, in which Sonia and Rahul held 76% shares (38% each), to siphon off assets of AJL in lieu of repaying a Rs 90 crore loan (taken by AJL) to Congress. This debt was converted into equity in favour of Young Indian (YI), ED argued. The agency argued that the whole scheme was conceived for the benefit of the Gandhis, who controlled YI as well as AJL, the latter, while being in loss, had enough assets to repay the loan. "Losses were to the tune of Rs 70 lakh. They (YI) didn't even have the wherewithal to pay Rs 50 lakh. During this time, Rahul and Sonia were directors of the company along with Sam Pitroda and others," said Raju, adding that AJL was not making profit but it had assets worth Rs 2,000 crore. "How come they (AJL and its functionaries) didn't have Rs 90 crore to repay the loan (given by Congress)? Any prudent person would've sold their assets to repay loans. This is absurd and can never be explained," the ASG argued. The hearing saw Raju refuting the suggestion that since AJL was started by the first PM, Jawahar Lal Nehru, it was alright for Congress to acquire it. Referring to Sonia and Rahul, ED said till 2015, only these two individuals were the actual beneficiaries with full control over AJL's assets and functioning. Tired of too many ads? go ad free now The court will continue to hear arguments on Thursday too. "AJL was not making a profit but it had large assets of Rs 2,000 crore. They were finding it difficult to manage their daily affairs. Thus, a Rs 90 crore loan was taken from Congress," ASG submitted. He said several senior Congress functionaries engaged in fake transactions that existed only on paper to divert funds to AJL, adding that fabricated rent receipts and fraudulent advance rent payments were made over several years.
