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Time of India
a day ago
- Business
- Time of India
Sambhv Steel Tubes IPO: GMP stable at 11%, issue witnesses oversubscription. Check details
The initial public offering ( IPO ) of Raipur-based Sambhv Steel Tubes Ltd, a backward-integrated producer of ERW steel pipes and structural tubes, which opened for subscription on Wednesday, is trading at a grey market premium ( GMP ) of Rs 9–10, indicating an 11% premium over the issue price. At the end of the second day of bidding, the issue saw an overall subscription of 1.76 times, with non-institutional investors (NIIs) taking the lead, subscribing to the issue by 3.12 times, followed by the retail investors, who subscribed to the issue by 1.84 times. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Milana, 38, Shows Her Huge Size In New Photos. Paperela Undo The qualified institutional buyers (QIBs) subscribed to the issue by 61%. Investors can bid for a minimum of 182 shares, translating to a minimum investment of Rs 14,924 at the upper end of the price band. The IPO comprises a fresh issue of shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore. The company plans to utilise the proceeds primarily to repay borrowings up to Rs 390 crore and for general corporate purposes. The shares are expected to be listed on both the NSE and BSE on July 2. Live Events What brokerages say about Sambhv Steel Tubes IPO? Goejit Investments- Subscribe At the upper price band of Rs 82, SSTL is valued at a P/E ratio of 44.5x (FY25E annualised), which appears reasonably priced relative to its is strategically positioned to capitalize on India's infrastructure boom, driven by initiatives such as the Jal Jeevan Mission and Amrit Bharat scheme. As a backward-integrated player with consistent financial growth, efficient strategic sourcing, and ongoing expansion plans, the company is well-poised for long-term value creation—supporting a 'Subscribe' recommendation for investors. BP Wealth- Subscribe BP wealth highlights Sambhv's cost-efficient, single-location integrated facility and rising market share. Ventura Securities too recommends 'Subscribe', noting the company's robust distributor-dealer network spanning 15 states and one union territory, and its expansion into stainless steel products, which could push future margins higher. Choice Broking- Subscribe for long term At a higher price band, the company is demanding a valuation of a P/E of 29.3x (based on FY24 EPS of Rs. 2.8) and EV/Sales of 2.4x; this valuation seems to be fully priced compared to its peer average. Annualizing 9MFY25 earnings (EPS of Rs 1.8), the implied P/E rises to 44.5x, reflecting a temporary decline in profitability due to ongoing facility expansions. Backed by fully integrated operations and in-house manufacturing capabilities, the company is well-positioned to capitalize on this sectoral growth. While there may be short-term pressure on margins, the company's ongoing expansion and favorable industry dynamics point to strong long-term growth potential. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
3 days ago
- Business
- Time of India
Sambhv Steel Tubes IPO subscribed 31% so far on Day 1, GMP at 11%. Should you subscribe?
The IPO of Raipur-based Sambhv Steel Tubes (SSTL), a backward-integrated manufacturer of ERW steel pipes and structural tubes, opened for subscription earlier today and has been subscribed 31% so far on the first day of the bidding process, with a grey market premium (GMP) of 11%. Qualified institutional buyers (QIBs) led the response, subscribing to 38% of their quota, followed by retail investors at 32%, and non-institutional investors (NIIs) at 19% of their reserved portion. Investors can apply for a minimum of 182 shares, requiring a minimum investment of Rs 14,924 at the upper price band. Ahead of the issue opening, the GMP stood at Rs 9–10, indicating an 11% premium over the issue price. The IPO comprises a fresh issue of shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore. The proceeds will primarily be used to repay borrowings (up to Rs 390 crore) and for general corporate purposes. The stock is scheduled to list on July 2 on both the NSE and BSE. Should You Subscribe to the Sambhv Steel Tubes IPO? Geojit Financial Services – Subscribe At the upper price band of Rs 82, SSTL is valued at a P/E ratio of 44.5x (FY25E annualised), which appears reasonably priced relative to peers. SSTL is strategically positioned to benefit from India's infrastructure push, driven by schemes such as the Jal Jeevan Mission and Amrit Bharat Scheme. As a backward-integrated player with consistent financial growth, strategic sourcing efficiency, and expansion plans, the company is well-placed for long-term value creation—supporting a Subscribe recommendation for investors. BP Wealth – Subscribe BP Wealth highlights Sambhv's cost-efficient, single-location integrated facility and growing market share. Ventura Securities also recommends Subscribe, citing the company's robust distributor-dealer network across 15 states and one union territory, and its expansion into stainless steel products, which could improve margins in the future. Sambhv's product portfolio includes black pipes, hollow sections, CRFH pipes, Corten steel pipes, GP pipes, GI pipes, and more. Since commencing operations in 2018, the company has achieved vertical integration—manufacturing sponge iron, blooms, slabs, and coils in-house. This structure offers protection against input cost fluctuations and ensures supply chain reliability. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
3 days ago
- Business
- Economic Times
Sambhv Steel Tubes IPO subscribed 31% so far on Day 1, GMP at 11%. Should you subscribe?
The IPO of Raipur-based Sambhv Steel Tubes (SSTL), a backward-integrated manufacturer of ERW steel pipes and structural tubes, opened for subscription earlier today and has been subscribed 31% so far on the first day of the bidding process, with a grey market premium (GMP) of 11%. ADVERTISEMENT Qualified institutional buyers (QIBs) led the response, subscribing to 38% of their quota, followed by retail investors at 32%, and non-institutional investors (NIIs) at 19% of their reserved portion. Investors can apply for a minimum of 182 shares, requiring a minimum investment of Rs 14,924 at the upper price band. Ahead of the issue opening, the GMP stood at Rs 9–10, indicating an 11% premium over the issue price. The IPO comprises a fresh issue of shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore. The proceeds will primarily be used to repay borrowings (up to Rs 390 crore) and for general corporate purposes. The stock is scheduled to list on July 2 on both the NSE and BSE. At the upper price band of Rs 82, SSTL is valued at a P/E ratio of 44.5x (FY25E annualised), which appears reasonably priced relative to peers. SSTL is strategically positioned to benefit from India's infrastructure push, driven by schemes such as the Jal Jeevan Mission and Amrit Bharat Scheme. ADVERTISEMENT As a backward-integrated player with consistent financial growth, strategic sourcing efficiency, and expansion plans, the company is well-placed for long-term value creation—supporting a Subscribe recommendation for investors. ADVERTISEMENT BP Wealth highlights Sambhv's cost-efficient, single-location integrated facility and growing market share. Ventura Securities also recommends Subscribe, citing the company's robust distributor-dealer network across 15 states and one union territory, and its expansion into stainless steel products, which could improve margins in the product portfolio includes black pipes, hollow sections, CRFH pipes, Corten steel pipes, GP pipes, GI pipes, and more. ADVERTISEMENT Since commencing operations in 2018, the company has achieved vertical integration—manufacturing sponge iron, blooms, slabs, and coils in-house. This structure offers protection against input cost fluctuations and ensures supply chain reliability. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
News18
3 days ago
- News18
Raipur Couple Kills Disabled Man Over Land Dispute, Hides Body In Cement-Filled Trunk
Last Updated: Preliminary interrogation revealed that Raipur-based lawyer Ankit Upadhyay and his wife conspired to kill the victim Kishore Paikra A gruesome murder case unravelled after the body of a disabled man was found encased in cement, stuffed inside a suitcase, and locked within a steel trunk dumped in a residential area of Raipur, Chhattisgarh. The investigation quickly led police to Delhi airport, where a married couple suspected of orchestrating the murder was arrested, The Times of India (TOI) reported. According to Raipur SSP Lal Umed Singh, preliminary interrogation revealed that Raipur-based lawyer Ankit Upadhyay and his wife conspired to murder Kishore Paikra following a dispute over a land brokerage deal. 'The murder was motivated by a financial disagreement after Paikra was allegedly cheated in a land deal," Singh told TOI. Investigators tracked the suspects through CCTV footage, which showed a car entering Raipur's DD Nagar on Monday. Two men are seen getting out of the vehicle and unloading the trunk containing the body, while a woman with her face covered followed the car on a two-wheeler. Police suspect the car bore a fake number plate. The investigation uncovered that Paikra, who was wheelchair-bound and lived in Handipara's HMT Chowk, had earlier sold a plot of land in Mohadi village with Ankit's assistance for Rs 50 lakh, but allegedly received Rs 20 lakh less than agreed. When Paikra threatened to file a police complaint over the missing payment, Ankit and his wife allegedly planned and executed the murder. The couple, originally from Changorabhatha village, was flown back to Raipur late Tuesday after their arrest at the airport, TOI reported. First Published:
Economic Times
3 days ago
- Business
- Economic Times
Sambhv Steel Tubes IPO opens today: Should you subscribe?
Should you subscribe? Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Raipur-based Sambhv Steel Tubes Ltd , a backward-integrated manufacturer of ERW steel pipes and structural tubes, has opened its Rs 540 crore IPO for subscription today, June 25. The offer will close on June 27, with a price band of Rs 77 to Rs 82 per can apply in lots of 182 shares, translating to a minimum investment of Rs 14,924 at the upper band. Ahead of the issue opening, the GMP is around Rs 5, which is 6% premium over the issue IPO comprises a fresh issue of shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore. The proceeds will be used mainly to repay borrowings (up to Rs 390 crore) and for general corporate purposes. The listing is scheduled for July 2, on both the NSE and are largely positive on the issue, citing Sambhv's strong fundamentals, integration advantages, and scalability in a growing Wealth has issued a 'Subscribe' rating, highlighting Sambhv's cost-efficient, single-location integrated facility and rising market share. Ventura Securities too recommends 'Subscribe', noting the company's robust distributor-dealer network spanning 15 states and one union territory, and its expansion into stainless steel products which could push future margins product portfolio includes black pipes, hollow sections, CRFH pipes, Corten steel pipes, GP pipes, GI pipes, and commencing operations in 2018, the company has integrated vertically—manufacturing sponge iron, blooms, slabs, and coils in-house. This structure offers insulation against input cost fluctuations and ensures supply-chain FY24, Sambhv reported a revenue of Rs 1,285.76 crore, up 37% YoY. PAT stood at Rs 82.44 crore, with EBITDA margins at 12.40%. Net worth doubled from Rs 210.4 crore in FY23 to Rs 438.28 crore in FY24, while borrowings also rose significantly to Rs 619.14 crore, a factor the IPO aims to the upper end of the price band, Sambhv is valued at a P/E of 21.64x (FY24) and 36.39x (annualised 9MFY25), compared to an industry average of 27.14x. While marginally premium, analysts believe these valuations are justified given the company's forward integration, expanding product mix, and access to raw materials.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
