Sambhv Steel Mobilises Rs 161 Crore from Anchor Investors Ahead of IPO Launch

Sambhv Steel Tubes announced on Tuesday that it successfully raised Rs 161.25 crore from anchor investors, just a day before launching its initial public offering (IPO) for public subscription.

Notable investors such as WhiteOak Capital Mutual Fund, Motilal Oswal MF, and several global investment firms have been allotted shares at the upper IPO price band of Rs 82 per equity share, according to a BSE circular.

The upcoming Rs 540-crore IPO, opening on June 25 and closing on June 27, includes a fresh issue of Rs 440 crore and an offer for sale by promoters worth Rs 100 crore. Proceeds will be used for debt repayment and corporate purposes. Sambhv Steel, a leading manufacturer of ERW steel pipes, is set to list on the BSE and NSE on July 2.

(With inputs from agencies.)