VIBHOR STEEL TUBES (MAINBOARD)
Feb 13, 2024 - Feb 15, 2024
| Price | ₹141 - ₹151 |
| Premium | ₹140 |
|---|---|
| Lot size | 99 |
| Allotment | Feb 16, 2024 |
| Listing | Feb 20, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 99 | 14949 | 16793 |
| sHNI | 14 | 1386 | 209286 | 171 |
| bHNI | 67 | 6633 | 1001583 | 343 |
Last Updated as on 15-Feb-2024 19:00:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 950062 | 181847952 | 191.41 |
| HNIs | 712491 | 550395252 | 772.49 |
| HNIs (10+L) | 474994 | 358323471 | 754.37 |
| HNIs (2-10L) | 237497 | 192071781 | 808.73 |
| Retail | 1662480 | 335017089 | 201.52 |
| Employees | 29502 | 6365700 | 215.77 |
| Total | 3354535 | 1073625993 | 320.05 |
| Total Application : 2,800,521 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹38.8 | @8% ₹44.34 | @9% ₹49.89 | @10% ₹55.43 | @11% ₹60.97 | @12% ₹66.52 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹301748 |
Vibhor Steel Tubes Limited, founded in 2003, specializes in manufacturing, exporting, and supplying a diverse range of steel pipes and tubes primarily for heavy engineering industries in India. The company's product portfolio encompasses various types of pipes and related products tailored for specific applications:
1. **ERW Pipes**: These pipes are designed for use in water transport, oil, gas, and other non-toxic supply applications. ERW stands for Electric Resistance Welded, indicating the method of manufacturing where the pipes are welded using electrical resistance.
2. **Hot-Dipped Galvanized Pipes**: Specifically engineered for applications in agriculture and infrastructure, these pipes undergo a galvanizing process where they are coated with a layer of zinc to enhance corrosion resistance and durability.
3. **Hollow Section Pipes**: Available in square and rectangular forms, these pipes are commonly used in construction projects, structural applications, and fabrication works where strength and versatility are essential.
4. **Primer Painted Pipes**: These pipes are coated with a primer layer, providing an initial protective coating against corrosion and serving as a base for further painting or finishing.
5. **Crash Barriers**: Designed for safety applications in railways, highways, and roads, crash barriers manufactured by Vibhor Steel Tubes Limited offer reliable protection and durability to help mitigate the impact of accidents and ensure road safety.
By offering a comprehensive range of high-quality steel pipes and tubes tailored to specific industry needs, Vibhor Steel Tubes Limited aims to meet the diverse requirements of its customers in various heavy engineering sectors across India.
The company has two manufacturing facilities in Raigad, Maharashtra and Mahabubnagar (Dist.), Telangana and a warehouse in Hisar, Haryana.
As of September 28, 2023, the company had a total of 636 employees, including workers.
Vibhor Steel Tubes IPO Details
| Issue Size | [.] shares (aggregating up to ₹72.17 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹72.17 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 14,183,000 |
Vibhor Steel Tubes IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Vibhor Steel Tubes IPO Lead Manager(s)
- Khambatta Securities Limited
Key Performance Indicator
| KPI | 2023 | 2022 | 2021 |
| ROE (%) | 25.51% | 17.11% | 1.14% |
| ROCE (%) | 16.48% | 12.09% | 9.90% |
| Debt/Equity Ratio | 1.63 | 1.77 | 1.23 |
| RoNW (%) | 22.60% | 15.74% | 1.14% |
| PRE IPO | ||
|---|---|---|
| EPS (Rs) | 14.85 | |
| P/E (x) | 10.17 |
Company Financials
Vibhor Steel Tubes Limited Financial Information (Restated Standalone)
Vibhor Steel Tubes Limited's revenue increased by 36.15% and profit after tax (PAT) rose by 85.91% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 293.63 | 248.54 | 172.93 |
| Revenue | 1,114.38 | 818.48 | 511.51 |
| Profit | 21.07 | 11.33 | 0.69 |
| Net Worth | 93.20 | 71.97 | 60.49 |
| Borrowing | 152.38 | 127.05 | 74.22 |
| Amount in ₹ Crore | |||
Strengths
· Geographically advantageous positioning of manufacturing units aids logistical efficiency.
· Strategic association with Jindal Pipes Limited enhances company's credibility.
· Adherence to international manufacturing standards and attainment of global accreditations ensures product quality.
· Seasoned Promoters and proficient senior management team contribute to strategic decision-making and operational excellence.
· Extensive distribution and marketing network amplify market reach and penetration.
· Consistently robust financial performance underscores company's stability.
· Export capabilities bolster revenue streams through collaboration with Jindal Pipes Limited.
Risks
· Capital-intensive nature of business demands substantial investment, potentially straining resources.
· Significant portion of current assets tied up in Trade Receivables and Inventories necessitates efficient management.
· Recent financial losses indicate operational challenges and require remedial action.
· Negative cash flows pose challenges to financial liquidity and sustainability.
· Exposure to foreign regulatory and forex exchange risks adds complexity to business operations.
· High working capital requirements may strain financial resources and liquidity
Vibhor Steel Tubes IPO Lead Manager(s)
- Khambatta Securities Limited
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: vibhor.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/