Sambhv Steel Tubes IPO Allotment Date: GMP Rises Ahead of Listing, Check Subscription Status
Last Updated:
The GMP of the Suntech Infra Solutions IPO is 17.07% today; its allotment is scheduled to be finalised on Monday, June 30.
Sambhv Steel Tubes IPO Allotment Date: The Sambhv Steel Tubes IPO has received a strong 30.33x subscription on the final day of bidding on Friday, amid a decent GMP. Its grey market premium of 17.07% signals decent listing gains for investors. However, brokerage reports have recommended the company for the long-term play due to its fully backward integration. As the issue has closed, investors are awaiting its allotment.
The allotment of the Sambhv Steel Tubes IPO is scheduled to be finalised on Monday, June 30.
Sambhv Steel Tubes IPO: A Step-By-Step Guide To Check Allotment Status
Once the IPO allotment is finalised, investors will start receiving bank debit messages, most probably in the evening on June 30. They can also check their allotment status on the websites of the NSE as well as registrar Kfin Technologies. The allotment status can be checked by following these steps:
1) Go to the official BSE website via the URL — https://www.bseindia.com/investors/appli_check.aspx.
2) Under 'Issue Type', select 'Equity'.
3) Under 'Issue Name', select 'Sambhv Steel Tubes Ltd' in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the 'I am not a robot' to verify yourself and hit the 'Search' option.
https://ipostatus.kfintech.com/ and check the Sambhv Steel Tubes IPO allotment status.
The allotment status can also be checked on the NSE's website at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids.
According to market observers, the GMP of the Suntech Infra Solutions IPO has increased to 17.07% currently.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Sambhv Steel Tubes IPO Listing Date
The listing of Sambhv Steel Tubes Ltd's shares will take place on Wednesday, July 2, on both BSE and NSE.
Sambhv Steel Tubes IPO: More Info
The IPO consists of a fresh issue of equity shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore by the company's promoter and promoter group shareholders.
It was open for public subscription between June 25 and June 27. On the final day of bidding on Friday, the Sambhv Steel Tubes IPO received a 30.33 times subscription, garnering bids for 1,40,13,19,920 shares as against the 6,58,69,293 shares on offer. The retail and NII participation stood at 8.56 times and 33.88 times, respectively. Its qualified institutional buyer (QIB) category got a 66.36 times subscription.
The price band was fixed at Rs 77 to Rs 82 per equity share of face value Rs 10 each.
Most brokerage firms gave 'subscribe' recommendations to the IPO, with most advising investors to take a long-term view due to Sambhv Steel's backward integration, new capacity ramp-up, and strong product portfolio. They added that growth prospects and debt reduction post IPO offer a compelling long-term case.
As per the RHP, Sambhv Steel intends to use the net proceeds from the fresh issue primarily for pre-payment or scheduled repayment of certain outstanding borrowings, and the remaining amount will go towards general corporate purposes.
Sambhv Steel Tubes is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024.
According to a Crisil report, the demand for domestic steel pipes and tubes is expected to have grown at a compound annual growth rate (CAGR) of 5-6 per cent to 12.50-13.50 million tonnes per annum (MTPA) in FY25 from 8.8 MTPA in FY19.
The growth was led by government initiatives to augment urban structural infrastructure and to infuse investments in the oil and gas sector.
Going forward, domestic steel pipe demand is projected to increase to 18.50-20.50 MTPA in FY29 at 8-9 per cent CAGR between FY25 and FY29 on a high base, the report added.
Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers (BRLMs) to the issue.
Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated!
First Published:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
34 minutes ago
- Time of India
Minister instructs Karnataka's transport department to cancel auto permits, book cases for illegal fare charges
Bengaluru: Almost two weeks after public anguish over the exorbitant rise in auto fares following the ban on bike-taxi operations in the state, transport minister Ramalinga Reddy Saturday instructed the transport commissioner to take action against ride-hailing mobile apps and regular autos if they are found charging illegal fares. Tired of too many ads? go ad free now Instructions have been given to transport department officials to cancel auto permits and book cases for illegal fare charges. Interestingly, the direction came from the minister hours after #stepdowntransportminister was trending on social media platform X over the ban on bike taxis. Ramalinga Reddy told TOI he himself has received complaints from the public over auto drivers and aggregators charging exorbitant fares. The letter addressed to the transport commissioner states that on June 18, 2025, the ride-hailing mobile app Rapido was charging Rs 100.9 per km. "This kind of daylight robbery is unpardonable and strict action should be taken," the letter states. Reddy cited ride-hailing apps as the reason for exorbitant fares being charged. "A majority of auto drivers have attached their vehicles with ride-hailing apps. These apps, instead of following fare rules of the govt, are charging higher auto fares and other fees," he said, adding: "Enforcement staff will identify irregularities and take action. No auto drivers should collect more fare from passenger." On the trending hashtag, the minister said, "We've acted against bike-taxi operations as per the high court order. On social media, people do make comments about the decision taken by authorities, I don't have much to say about that. Earlier, bike-taxi operations were illegally operated. It is to say that the state govt does not support illegal operations." Tired of too many ads? go ad free now Following the letter from the minister, transport commissioner Yogeesh AM told TOI that enforcement officials have been asked to act on the illegal collection of fares. "When customers street hail an auto, the driver should charge the fare as fixed by the regional transport authority. Ride-hailing apps can charge a 10% service tax in addition to the fares fixed by RTA. Other fees and charges on customers are illegal. " As per the last revision in 2022, RTA has fixed Rs 30 for the first 2km and Rs 15 per km thereafter Multiple fees make commuting expensive Ever since bike-taxis were banned in the city, mobile apps and auto drivers have been fleecing the general public without any regard for rules. In addition to paying a digital tip to lure auto drivers to accept the booking, the customers are forced to pay a congestion charge, pick-up fee, driver additional fee, and others. The digital tip just to book an auto ranges from Rs 10 to Rs 100. If a customer agrees to pay a lesser amount of tip, then a message pops up suggesting more tip to get an auto booked. Urban mobility expert Satya Arikutharam said, "It is basically unethical to force a passenger to pay a certain amount of tip while booking an auto. Usually, a customer pays the tip voluntarily after the delivery of the service; this is the custom everybody is accustomed to. What is happening here in the name of innovation is that aggregators are trying to become cheeky and creative. When I spoke to the drivers, they were unaware that aggregators are asking for the tip in their name. Union minister Pralhad Joshi has referred the case of advancing tipping to central consumer protection authority (CCPA) for investigation." He added aggregators not complying with the high court orders on charging fares for mobile-app-based services is a matter of concern.
India Gazette
34 minutes ago
- India Gazette
UP: CM Yogi Adityanath pays tribute to philanthropist, Bhamashah; honors top tax-paying traders
Lucknow (Uttar Pradesh) [India], June 28 (ANI): Chief Minister Yogi Adityanath paid tribute to philanthropist and businessman Bhamashah on his birth anniversary and conferred the Bhamashah Samman to leading traders and businesspersons from across the state who have significantly contributed to Uttar Pradesh's economy by consistently paying high revenue taxes. Speaking on the occasion, he underscored the importance of recognising the business community's role and said, '... Not only in Lucknow but in all districts of the nation, businessmen paying high GST should be facilitated on this day. Businessman who did the GST registration but later became the victim of any mishap, then they are secured with the cover of Rs 10 lakh by the National Traders Welfare Board...' An exhibition highlighting key moments from Bhamashah's life and his enduring contributions to society was also inaugurated and observed by CM Yogi. Further in a post on X CM wrote, 'On the eve of the birth anniversary of the great son of Mother India, the philanthropist Bhamashah Ji, I participated in an event organized in Lucknow today, where I honored the highest revenue-paying traders with the Bhamashah Award and also felicitated traders who have made special contributions to society.' 'To express gratitude for Bhamashah Ji's unparalleled sacrifice and patriotism, 'Traders' Welfare Day' should be organised every year on 29 June. I offer my heartfelt salutations to Bhamashah Ji, the symbol of charity, righteousness, and patriotism! Heartiest congratulations to all the trader brothers, the pillars of the state and nation's economic prosperity,' he added. Apart from this, while taking a jibe at the opposition, the CM said, 'How long will people keep dividing the country for vote bank? They are the same people who used to bow down in front of the mafia every opportunity they got... These people used to mortgage their power to the mafia... They used to extort money in the name of jobs. Now, when their business of extortion has stopped, they are causing rifts in the name of caste... I say this again and again- 'Batoge to Katoge' and 'Ek Rahoge to Nek Rahoge'.' (ANI)
Time of India
an hour ago
- Time of India
Demand for MSME stock exchange in UP
Lucknow: Based on its on-ground experience of interaction with UP's diaspora in Maharashtra, Uttar Pradesh Development Forum — a not-for-profit social organisation working to integrate UP diaspora for development of the state — has urged the Uttar Pradesh govt to establish a dedicated MSME National Stock Exchange in Uttar Pradesh. In a letter to UP MSME minister Rakesh Sachan, UPDF president Pankaj Jaiswal wrote: "While existing stock exchanges such as BSE and NSE offer an SME platform for IPOs, these often operate under the overwhelming shadow of large-cap markets much like a sapling growing under a Banyan tree. We believe that if UP being the national leader in MSMEs takes the bold step of establishing a dedicated MSME Stock Exchange, it would serve as a catalytic financial institution for MSMEs across India." He added UP's exchange could focus exclusively on the unique capital needs of small and medium enterprises. He listed out several advantages of the exchange, such as simplified and fast-track listing procedure; tailored compliance mechanisms; sector-specific investor networks. "The initiative would not only solve capital accessibility issues but also position Uttar Pradesh as the capital state for MSMEs, just as Mumbai is for capital markets," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Co-live Spaces Starting from 42L+ | Whitefield Sumadhura Learn More Undo Sachan, during his interaction with UPDF in Maharashtra on Saturday, gave a presentation on the policy support being provided to MSMEs in Uttar Pradesh and elaborated on the govt's flagship "PLEDGE Scheme". This scheme promotes the development of private industrial parks under a "build, own, and operate" model, allowing land development from 10 to 50 acres with significant incentives, including 100% exemption on stamp duty, loan assistance at just 1% interest rate, grant support of up to Rs 4 crore, 10 years exemption on electricity duty, as well as GST and income tax exemptions. Facilities such as testing labs, effluent treatment plants, and road connectivity are also supported. He also invited entrepreneurs to invest in UP and share knowledge with local industries. On this occasion, Ashok Tiwari proposed organising a National MSME Conclave in Uttar Pradesh.
