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Vibhor Steel Tubes stock jumps over 19% to hit 3-week high, up 32% in 3 sessions; here's why

Shares of Vibhor Steel Tubes jumped over 19% to hit a 3-week high. Over the last three trading sessions (including today), the stock spiked 32%.

Vibhor Steel share price becomes first mainboard IPO of 2024 to list above 190% premium

Vibhor Steel IPO garners massive subscription rate of 298.86 times, debuting with a 181% premium and settling at a 195.5% gain. The company collaborates with Jindal Pipes Limited, exporting products globally and introducing new product lines under its brand.

Vibhor Steel Tubes IPO: Vibhor Steel Tubes stock lists with 182% premium over IPO price

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.

Vibhor Steel Tubes jumps 3-fold on stellar listing - The Hindu BusinessLine

Vibhor Steel Tubes GMP: Investors await a likely robust listing on Tuesday

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%.