Sambhv Steel Tubes IPO allotment status: Check application, latest GMP & listing date

Sambhv Steel Tubes is likely to finalize the basis of allotment of its shares on Monday, June 30. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate today or latest by Tuesday, July 01. The steel pipes manufacturer saw a decent response from the investors.

The IPO of Raipur-based Sambhv Steel Tubes was open for bidding between June 25 and June 27. It had offered its shares in the price band of Rs 77-82 per share with a lot size of 182 shares. The company raised a total of Rs 540 crore via IPO, which included a fresh shares sale of Rs 440 crore and offer-for-sale of up to 1,21,95,121 equity shares worth Rs 100 crore.

The issue was overall subscribed 28.46 times fetching over 12.15 lakh applications. The allocation for the qualified institutional bidders (QIBs) was subscribed a solid 62.32 times The portion for non-institutional investors (NIIs) booked 31.82 times. Allocations for retail investors and employees were booked 7.99 times and 5.34 times, respectively during the bidding process.

The grey market premium (GMP) of Sambhv Steel Tubes has remained stable, following sharp institutional interest. Last heard, the company was commanding a premium of Rs 14-15 in the unofficial market, suggesting a listing gains of around 17-18 10 per cent for the investors. The GMP stood at Rs 10 when the issue had opened for bidding.

Incorporated in 2017, Sambhv Steel Tubes is a manufacturer of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India. Its manufacturing facility is located in Village Tilda Tehsil, Raipur, Chhattisgarh. It has a wide distribution network in India which extends across 15 states and one union territory.

Nuvama Wealth Management and Motilal Oswal Investment Advisors are the book running lead managers of the Sambhv Steel Tubes IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on Wednesday, July 02.

Investors, who had bid for the issue of Sambhv Steel Tubes, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Sambhv Steel Tubes Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.