In the IPO Market, these days, they are getting out and the blast companies are being listed in the stock market by launching their issues. On the third trading day of the week, on Wednesday, an IPO was listened to a bang and investors earned strong money from it. We are talking about possible steel tubes IPO, which is listed at 34 percent premium compared to its issue price. Let’s understand how much this stock benefited the investors as soon as the list was done?
Share listed in market at Rs 110
Electric Resistance Welded (ERW) steel pipe and structural tube -making company possible steel tubes made a debut in Share Market on Wednesday. The company’s stock was listed at Rs 110.10 on the Bombay Stock Exchange (BSE), which is 34.27 percent more than its issue price of Rs 82 per share.
Similarly, Sambhv Steel Share on the National Stock Exchange (NSE) listed at Rs 110 with 34.15 percent more premium. In such a situation, it would not be wrong to say that the listing of possible steel tubes has been better than the expectations of investors, because before the listing, it was trading in gray-market at Rs 14-15 at a premium.
540CR issue, got great response
The distribution network of this company, established in the year 2017, is spread over 15 states. The price band of this Sambhv Steel Tubes IPO, which was open for subscription for common investors from 24 to 27 June, was fixed at Rs 77-82 per share. Its size was Rs 540 crore, under which the company had kept fresh shares worth Rs 440 crore and share offers worth Rs 100 crore for sale through FARK SAIL.
This IPO had received tremendous response from investors and was subscribed to 28.46 times in total till the last day. The QIB category was 62.32 times, NII 31.82 times and retail section 7.99 times subscribed.
How much benefit investors are beneficial on listing?
After the excellent listing, the benefits of investors who put money in the company’s shares were fixed for 182 shares of this IPO and according to the upper price band, any investor had to invest a minimum investment of Rs 14,924 for this. In such a situation, if you calculate the listing profit, then the amount of bidder for a lot has increased to Rs 20,020 for a lot of Rs 20,020 on the basis of Sambhv Steel Listing Price and according to this, they have benefited by Rs 5,096 in the shock.
Under the IPO, bids can be bid for a maximum of 13 lots and its investment from Rs 82 was Rs 1,94,012 according to the upper price band of Rs 82. In such a situation, the amount of investors bidding for maximum lot has increased by Rs 66,248 and their amount invested for 2366 shares has increased to Rs 2,60,260.
(Note- Be sure to consult your market experts before any kind of investment in the stock market or IPO market.)