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Vibhor Steel Tubes IPO
Price Band
₹141.0–151.0
Issue Size
₹72.17 Cr
Lot Size
99 shares
Min Investment
₹14,949
GMP
+₹140.0 (92.72%)
Issue Price
₹151.0
Subject to Sauda
₹10500
Paid only if allotted
Vibhor Steel Tubes IPO AI Summary
- Vibhor Steel Tubes IPO is listed on BSE, NSE in the Iron & Steel Products sector.
- Price band: ₹141.0–₹151.0 per share, lot size 99 shares (min. investment ₹14,949).
- Subscription window: 13 Feb–15 Feb 2024, listing on 20 Feb 2024.
- Current GMP is +₹140.0 (92.72%), an estimated listing price of ₹291 — unofficial and can change daily.
Vibhor Steel Tubes Limited is entering the IPO market with a price band of ₹141.0 to ₹151.0, aiming to raise ₹72.17 Cr. The company has shown a decrease in total income and profit in its latest financial period, which may affect investor sentiment. The IPO opens on February 13, 2024, and is expected to list on February 20, 2024.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Vibhor Steel Tubes IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 15 Feb 2024 — not a current signal.
Reviewers are split — see individual calls below.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Vibhor Steel Tubes IPO Grey Market Premium (GMP) Today
GMP
+₹140.0
GMP %
+92.72%
Est. Listing
₹291.0
Updated: 25 Jul 2026 14:07
About the Company
Founded in 2003, Vibhor Steel Tubes Limited manufactures, exports and supplies steel pipes and tubes to various heavy engineering industries in India. The company's product portfolio includes: ERW pipes for application in water transport, oil, gas and other non-toxic supplies. Hot-dipped galvanized pipes for application in agriculture and infrastructure. Hollow section pipes in square and rectangular forms. Primer painted pipes Crash barriers for application in railways, highways, and roads. The company has two manufacturing facilities in Raigad, Maharashtra and Mahabubnagar (Dist.), Telangana and a warehouse in Hisar, Haryana. As of January 24, 2024 the company had a total of 640 permanent employees.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 376.48 | 293.63 | 248.54 | 172.93 |
| Total Income | 531.24 | 1,114.38 | 818.48 | 511.51 |
| Profit After Tax | 8.52 | 21.07 | 11.33 | 0.69 |
| NET Worth | 101.76 | 93.20 | 71.97 | 60.49 |
| Total Borrowing | 160.27 | 126.83 | 106.07 | 58.74 |
Key Ratios
EPS
₹14.85
NAV
₹65.71
ROE
25.51%
ROCE
16.48%
RoNW
22.60%
P/B Value
2.30
P/E Ratio
10.17
Market Cap
₹286.33 Cr
PAT Margin
1.89%
Debt/Equity
1.63
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Rama Steel Tubes Ltd | 5.37 | 10.97% | 37.75 | 1.22 | 1.16 |
| Goodluck India Ltd | 227.47 | 14.16% | 31.01 | 33.31 | 33.31 |
| Hi-tech Pipes Limited | 32.71 | 9.01% | 47.91 | 3.06 | 2.18 |
| Apl Apollo Tubes Ltd. | 108.37 | 21.36% | 64.88 | 23.15 | 23.15 |
| Vibhor Steel Tubes Limited This IPO | 65.71 | 22.6% | 10.17 | 14.85 | 14.85 |
Promoters
Vijay Kaushik, Vibhor Kaushik, Vijay Laxmi Kaushik and Vijay Kaushik (HUF)
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Working capital requirements including margin money 62.00 2 General Corporate Purpose 3.37 Total 65.37
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹531.24 Cr for the period ending 30 Sep 2023, down from ₹1,114.38 Cr for the year ending 31 Mar 2023. This indicates a significant decrease in revenue, though the latest figure is for a 9-month period and not directly comparable to the full year.
Profit Trend
Profit after tax was ₹8.52 Cr for the period ending 30 Sep 2023, compared to ₹21.07 Cr for the year ending 31 Mar 2023. This decline in profit is also due to the latest figure being from a 9-month period, making it less directly comparable to the full year figure.
Valuation
At the issue price of ₹151.0, Vibhor Steel Tubes Limited has an implied P/E ratio of 10.17 based on its earnings per share (EPS) of ₹14.85. This is lower than its peers, which have P/E ratios ranging from 31.01 to 64.88.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the demand and supply dynamics for the shares in the grey market before they are officially listed on the stock exchange.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term investment horizon typically weigh IPOs like this against their overall portfolio strategy and risk tolerance, considering the company's fundamentals and market conditions.
Who May Want to Wait
Those who prefer stable returns and are risk-averse may want to avoid investing in IPOs, as they can be subject to significant price fluctuations in the short term.
IPO Timeline, Explained
The IPO opens for subscription on February 13, 2024, and closes on February 15, 2024. Allotment of shares will be done on February 16, 2024, with the listing expected on February 20, 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit made when an IPO's shares are sold on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from Vibhor Steel Tubes's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Vibhor Steel Tubes IPO GMP today?
Vibhor Steel Tubes IPO GMP today is +₹140.0 (92.72%), indicating an estimated listing price of ₹291. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Vibhor Steel Tubes IPO?
The price band of Vibhor Steel Tubes IPO is ₹141.0–₹151.0 per share.
When does Vibhor Steel Tubes IPO open and close?
Vibhor Steel Tubes IPO opens on 13 February 2024 and closes on 15 February 2024.
When does Vibhor Steel Tubes IPO list on the stock exchange?
Vibhor Steel Tubes IPO listed on 20 February 2024 at ₹291.0.
What is the lot size for Vibhor Steel Tubes IPO?
The lot size for Vibhor Steel Tubes IPO is 99 shares, requiring a minimum investment of ₹14,949.
What is the lot size for the Vibhor Steel Tubes IPO?
The lot size for the Vibhor Steel Tubes IPO is 99 shares.
What is the minimum investment required?
The minimum investment required is ₹14,949.
What is the price band for the IPO?
The price band for the IPO is ₹141.0 to ₹151.0.
When is the listing date for the IPO?
The listing date for the IPO is February 20, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price at which the shares will list on the stock exchange.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
13 Feb 2024
Close
15 Feb 2024
Allotment
16 Feb 2024
Listing
20 Feb 2024
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