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Sambhv Steel Tubes jumps on debut

02-Jul-25 10:40 Hrs IST

The scrip was listed at Rs 110.10, exhibiting a premium of 34.27% to the issue price.

So far, the stock has hit a high of Rs 110.89 and a low of Rs 96.17. On the BSE, over 51.41 lakh shares of the company were traded in the counter so far.

The initial public offer of Sambhv Steel Tubes received was subscribed 28.46 times. The issue opened for bidding on 25 June 2025 and it closed on 27 June 2025. The price band of the IPO is fixed between Rs 77 and 82 per share.

The offer comprised fresh issue of up to 5,36,58,537 equity shares at the upper price band of Rs 82 and 57142857 equity shares at the lower price band of Rs 77 aggregating Rs 440 crore and an offer for sale up to 1,21,95,122 equity shares crore at the upper price band of Rs 82 and 1,29,87,013 equity shares crore at the lower price band of Rs 77 aggregating Rs 100 crore.

The company proposes to utilized the net proceeds from the issue towards pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company amounting Rs 390 crore and the balance towards general corporate purposes. As of April 30, 2025, the total outstanding borrowings of the company are Rs 554.585 crore including Rs 549.058 crore of fund based borrowings and Rs 5.527 crore of non-fund borrowings.

Sambhv Steel 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. It primarily manufactures value added products such as pre-galvanized (GP) coils, GP pipes, Stainless steel (SS) HRAP (hot rolled annealed and pickled) coils, SS cold rolled (CR) coils at the Kuthrel facility. The company has installed a captive power plant which, as of March 31, 2025, operates with an installed capacity of 25 MW (comprising a 16 MW waste heat recovery boiler (WHRB) and nine MW atmospheric fluidized bed combustion (AFBC) system) that provides a localized source of power to its Sarora facility.

Ahead of the IPO, Sambhav Steel Tubes on Tuesday, 24 June 2025, raised Rs 161.24 crore from anchor investors. The board allotted 1.96 crore shares at Rs 82 each to 19 anchor investors.

The firm reported a standalone net profit of Rs 40.69 crore and a total income of Rs 1,016.09 crore for the nine months ended on 31 December 2024.