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Vibhor Steel shares listed with a premium of 182% on the exchanges, debuting at Rs 421 on BSE and Rs 425 on NSE. The solid listing is attributed to a diverse product portfolio, strong financial performance, manufacturing specialties, a long term business arrangement with Jindal Pipes, and revenue growth for working capital funding.
Boasting a diverse product portfolio, an established distribution network, and consistent financial performance, Vibhor Steel Tubes possesses a solid foundation for growth, maintained analysts
Vibhor Steel Tubes IPO garnered a stellar response, receiving an oversubscription of 320 times. The grey market premium is currently sitting at Rs 140 compared with an issue price of Rs 151, indicating listing pop of over 90%.
"The company focus will remain on improving operating efficiencies through technology enhancements which will strengthen the company s competitive position. Investors looking to invest, can invest in this IPO with a medium to long term perspective," said Master Capital.