Sambhv Steel IPO Day 2 update: Subscription rises 90%, NIIs lead demand

Sambhv Steel Tubes IPO Day 2 subscription status: NSE data shows that the mainline issue received bids for 4,35,68,616 shares against 4,92,06,100 shares on offer

Sambhv Steel Tubes IPO Day 2 subscription status: Sambhv Steel's initial public offering (IPO), which opened for subscription on Wednesday, June 25, 2025, has received a decent response from investors so far. The NSE data shows that the ₹540 crore offering of Sambhv Steel Tubes received bids for 4,35,68,616 shares, against 4,92,06,100 shares on offer, resulting in an oversubscription of around 89 per cent by 11:20 AM on Thursday, June 26.

 

Among the individual categories, non-institutional investors (NIIs) led the demand by subscribing to the portion reserved for them by 1.19 times. This was followed by retail investors, who bid for 92 per cent of the reserved quota, the employees portion was booked 81 per cent, and the qualified institutional buyers (QIBs) portion was subscribed 61 per cent.

 

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Sambhv Steel Tubes IPO GMP

According to sources tracking unofficial markets, the unlisted shares of Sambhv Steel Tubes were trading at ₹92, commanding a grey market premium of ₹10 or 12.2 per cent against the upper band price of ₹82.

Sambhv Steel Tubes IPO review

According to analysts at Geojit Investments, at the upper price band of ₹82, Sambhav Steel is valued at a P/E ratio of 44.5x (FY25E annualised), which appears reasonably priced relative to its peers.

 

"Sambhv Steel is strategically positioned to capitalise on India’s infrastructure boom, driven by initiatives such as the Jal Jeevan Mission and Amrit Bharat scheme. As a backward-integrated player with consistent financial growth, efficient strategic sourcing, and ongoing expansion plans, the company is well-poised for long-term value creation—supporting a 'Subscribe' recommendation for investors," the brokerage said in a note. READ MORE

Sambhv Steel Tubes IPO details

The Chhattisgarh-based steel pipes manufacturer plans to raise ₹540 crore through its maiden public issue. The mainline IPO comprises a fresh issue of 53.7 million equity shares aggregating to ₹440 crore and an offer for sale (OFS) of 12.2 million shares aggregating to ₹100 crore. 

Sambhv Steel Tubes IPO key dates

Sambhv Steel IPO will close for subscription on Friday, June 27, 2025. The basis of the allotment of shares is expected to be finalised on Monday, June 30, 2025. Shares of Sambhv Steel are scheduled to be listed on both exchanges, NSE and BSE, tentatively on Wednesday, July 2, 2025. 

Sambhv Steel Tubes IPO price band, lot size

The company has set the price band in the range of ₹77 to ₹82 per equity share. Retail investors can bid for a minimum of one lot consisting of 182 shares with an investment amount of ₹14,924.

Sambhv Steel Tubes IPO registrar, lead manager

Kfin Technologies is the issue registrar. Nuvama Wealth Management and Motilal Oswal Investment Advisors are the book-running lead managers for the issue.

 

Sambhv Steel Tubes IPO objective

According to the RHP, the company plans to use ₹390 crore from the net issue proceeds for prepayment or repayment of certain outstanding borrowings. The remaining funds will be used for general corporate purposes.

About Sambhv Steel

Incorporated in 2017, Sambhv Steel Tubes manufactures Electric Resistance Welded (ERW) steel pipes and structural tubes. With a facility in Sarora, Chhattisgarh, the company ranks among the top in installed capacity and is one of only two Indian firms using narrow-width HR coils for ERW production. Sambhv also operates in the stainless steel coils space, serving diverse sectors like infrastructure, agriculture, automotive, and energy. Its annual sales volume stood at 198,956 metric tonnes as of December 31, 2024.