Sambhv Steel Tubes Sets Stage for IPO with Strong Market Demand

Sambhv Steel Tubes is gearing up for its imminent IPO, slated to open for public subscription from June 25 to June 27, with a price range of Rs 77-82 per share. The offering aims to raise Rs 540 crore, with proceeds intended for debt repayment and corporate purposes.

As a leading manufacturer of electric resistance welded (ERW) steel pipes, Sambhv Steel Tubes is leveraging growing demand driven by infrastructure initiatives and investments in the oil and gas sector. Crisil forecasts domestic steel pipe demand to rise to 18.50-20.50 million tonnes per annum by FY29, reflecting a robust 8-9% CAGR.

Key details of the IPO include reserved allocations: 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The company is set for listing on both the BSE and NSE on July 2, with Nuvama Wealth Management and Motilal Oswal Investment Advisors managing the process.

(With inputs from agencies.)