Sambhv Steel Tubes share price extends post-listing gain for second straight session; rises 26% against issue price
The stock debuted in the market at ₹ 110.10, reflecting a 34.26% increase from the issue price on the BSE. Throughout the day, it surged by 35.23% to reach ₹ 110.89. The firm's shares closed at ₹ 97.58 each, which is a gain of 19%.
On the NSE, the stock opened at ₹ 110, marking a rise of 34.14%. The firm's shares finished at ₹ 97.59 each, representing a 19% premium.
The company's market capitalization was valued at ₹ 2,875.40 crore.
The initial public offering (IPO) of Sambhv Steel, valued at ₹ 540 crore, was oversubscribed 28.46 times by the end of the bidding last Friday. The price range for the IPO was set between ₹ 77 and ₹ 82 per share.
Sambhv Steel stands out as a major producer of electric resistance welded (ERW) steel pipes and hollow structural tubes in India.
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