Vibhor Steel shares surge 181% in debut trading
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New Delhi: Shares of steel pipe manufacturer Vibhor Steel Tubes listed with a huge premium of 181 per cent on stock exchanges on Tuesday against the issue price of Rs151. The stock made its debut at Rs425, climbing 181.46 per cent from the issue price on the NSE. On the BSE, shares of Vibhor Steel Tubes made its debut at Rs421, reflecting a rally of 178.81 per cent from the issue price. It further zoomed 192.72 per cent to Rs 442 apiece on the bourse. In the morning trade, the company’s market valuation stood at Rs 838.14 crore on the BSE.
In the morning session, the 30-share BSE Sensex benchmark rose 88.40 points or 0.12 per cent to 72,796.56, while NSE Nifty is marginally higher by 15 points to 22,122.10. Last week, Vibhor Steel Tubes’ IPO was subscribed nearly 300 times on the final day, driven by overwhelming participation from institutional investors.
