listed at 34% premium over their IPO price on Wednesday. The stock debuted at Rs 110 on BSE and NSE.The company’s IPO was priced at Rs 82 per share. The Rs 540 crore
public issue, comprising a fresh issue of Rs 440 crore and an offer for sale of Rs 100 crore, received robust demand during the bidding window from June 24 to 27. The IPO was subscribed across all investor categories, with particular strength seen in the institutional and high-net-worth segments.
Sambhv Steel is India’s only single-location backward-integrated ERW pipe and steel tubes manufacturer, and operates out of Chhattisgarh. The company produces sponge iron, hot rolled coils, and galvanized pipes under one roof, giving it operational and cost advantages in a competitive sector.
The company also benefits from proximity to major raw material sources, including coal and iron ore mines run by public sector undertakings, and services clients across 15 Indian states. Its widespread distribution network and diversified product portfolio have helped it post consistent revenue growth over the last three financial years.
Analysts tracking the issue say Sambhv’s integrated operations, rising
infrastructure demand, and post-issue debt reduction strategy make the stock attractive in the medium to long term.
The IPO raised Rs 161 crore from anchor investors ahead of the public offering, further bolstering sentiment. The allotment was finalized on June 30, and equity shares are expected to be credited to demat accounts ahead of the listing.Sambhv’s listing performance will be closely watched as a barometer of investor appetite for midcap industrial plays amid broader market volatility.(: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
