Hisar based Steel Tubes Company Vibhor Steel Tubes files DRHP with SEBI for the proposed IPO; Key Details here

Vibhor Steel Tubes is into Iron and Steel Steel Tubes and is looking raise funds through Fresh Issue

Vibhor Steel TubesIPO: Fresh Issue of Equity shares aggregating up to Rs.66.472 crores IPO

Vibhor Steel Tubes IPO: Vibhor Steel Tubes Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue of Equity Shares aggregating up to Rs 66.47 Cr.. Khambatta Securities have been appointed as lead merchant bankers for the proposed IPO. It has appointed Kfin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 66 Crs andby Being a Fresh Issue hence, no selling shareholders...

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Objects of the issue:
1) Funding of Working Capital requirements - Rs. 66.47 Cr., and 2) General Corporate Purpose.

Promoters of Vibhor Steel Tubes are Mr. Vijay Kaushik, Mr. Vibhor Kaushik, Mrs. Vijay Laxmi Kaushikand M/sVijay Kaushik HUF and holds 98.24% stake in the company.

About Company:
Hisar based Vibhor Steel is manufacturers and exporters of steel pipes and tubes. It manufactures Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hallow Steel Pipe, Cold rolled Steel (CR) Strips/ Coils. Products manufactures includes ERW Pipes, Hot Dipped Galvanized Pipes, Hollow Section Pipes, Primer Painted Pipes and Crash Barriers.

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About Industry:
India is one of the established manufacturers of steel pipes globally, which is one of the most important sub-industries of the Indian steel sector. Construction, Railways, Oil & gas, agriculture, real estate are some of the key consumers of steel pipes and tubes. Various initiatives and policies have been adopted by the Government to promote domestic steel production through Make in India initiative and National Steel Policy (NSP) 2017. The NSP envisages development of value-added products such as alloy steel & electrical steel in the domestic market. Overall, the increase in demand for steel tubes and pipes will contribute towards the country's growth and development, making them an important element of the country's infrastructure and manufacturing sectors.

Source: SEBI, BSE, NSE, DRHP, Vibhor Steel Tubes, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.