Vibor Steel gets off to a flying start, IPO investors get rich on day one.

After a strong response to the IPO, shares of Weibo Steel had a strong opening in the market on Tuesday. Shares of Vebor Steel Tubes Ltd today listed on BSE and NSE at a bumper premium of over 180 percent.

Shares of Vebor Steel Tubes were listed at Rs 421 on the BSE. It is 178.81% higher than the issue price. At the same time, the share opened at Rs 425 on the NSE, 181.5% higher than the IPO’s upper price band.

Such was the atmosphere in the gray market.

Even before the listing there was a positive vibe about Vibor Steel. Last week’s IPO was eagerly accepted by all categories of investors and over 320 times were subscribed in total. After the close of the IPO, Vibur Steel’s GMP also peaked. In the gray market, it was trading at a premium of Rs 140, or 93 per cent, to the pre-listing share.

Webur Steel IPO Details

The IPO of Vibhor Steel Tubes was launched last week on February 13. The IPO was open for subscription till February 15. The Rs 72.17 crore IPO was a fresh equity issue. The price band of this IPO was kept at Rs 141 to Rs 151 per share, while there were 99 shares in one lot of the IPO.

Almost double earnings on each lot

Thus, the price of one IPO lot is Rs 14,949. This means, to subscribe to this IPO, a retail investor needed at least Rs 14,949. After the IPO, the shares were allotted on February 16, which were deposited into the demat accounts of the successful investors on February 19. After the listing today, one share of Vebor Steel is priced at Rs 421 on the BSE. That is, the price of one lot has now increased to Rs 41,679. Thus, the successful investors of Vibhor Steel Tubes IPO have earned Rs 26,730 per lot on the first day itself.

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