Sambhv Steel Tubes IPO - Day 3 Subscription at 30.33 Times

Sambhv Steel Tubes' initial public offering (IPO) has demonstrated modest investor response through its second day of subscription, with Sambhv Steel Tubes' stock price set at ₹82 per share and Sambhv Steel Tubes' share price reflecting cautious market reception. The ₹862.63 crore IPO has witnessed measured progress, with subscription rates opening at 0.41 times on day one and improving to 0.53 times by 10:34:49 AM on day two, indicating reserved investor interest in this steel tubes manufacturing company.

Sambhv Steel Tubes IPO non-institutional investors segment leads with moderate 1.05 times subscription, while retail investors demonstrate limited participation at 0.83 times, employees show modest interest at 0.72 times, and qualified institutional buyers display minimal interest at 0.16 times, reflecting mixed investor confidence in this company with a diversified steel products portfolio.

Sambhv Steel Tubes IPO subscription reached a modest 0.53 times on day two, led by NII (1.05x), Retail (0.83x), Employees (0.72x), and QIB (0.16x). Total applications reached 94,538.

Subscription Status of Sambhv Steel Tubes IPO:

Here are the subscription details for Sambhv Steel Tubes IPO as of Day 3 (June 27, 2025, 5:05:10 PM):

Key Highlights - Day 3:

• Overall subscription reaching an exceptional 30.33 times, a massive surge from day two's 1.27 times
• QIB segment leading with extraordinary demand at 66.36 times, a phenomenal increase from day two's 0.17 times
• NII segment demonstrating robust participation at 33.88 times, a significant jump from day two's 3.32 times
• Retail segment showing strong interest at 8.56 times, building from day two's 1.97 times
• The final day witnessed exceptional institutional participation with overwhelming QIB response driving overall subscription
• Employee segment showing solid interest at 5.71 times, reflecting internal confidence in the company
• Total applications reached 12,15,738, indicating massive investor participation for this mainboard IPO
• The cumulative bid amount reached ₹11,490.82 crores against the issue size of ₹540.00 crores
   

Sambhv Steel Tubes IPO - Day 2 Subscription at 1.27 Times
 

Key Highlights - Day 2:

• Overall subscription improving to 1.27 times from day one's 0.41 times
• NII segment showing significant growth at 3.32 times, building momentum from day one's 0.73 times
• Retail segment demonstrating strong progress at 1.97 times, an increase from day one's 0.61 times
• QIB segment maintaining minimal participation at 0.17 times, slightly up from day one's 0.16 times
• Day two demonstrated building retail and NII confidence ahead of the extraordinary final day performance

Sambhv Steel Tubes IPO - Day 1 Subscription at 0.41 Times

Key Highlights - Day 1:

• Overall subscription is very weak at 0.16 times, indicating very poor investor reception
• Retail segment leading with weak participation at 0.20 times, showing limited individual investor interest
• QIB segment demonstrating weak interest at 0.15 times, reflecting institutional caution
• NII segment showing very weak interest at 0.11 times across both categories
• Employee segment showing weak participation at 0.19 times, similar to retail levels
• Total applications reached 21,933, indicating poor response despite moderate issue size
• The cumulative bid amount reached only ₹87.392 crores against the issue size of ₹540 crores
• Anchor allocation of ₹161.25 crores not inspiring public confidence

About Sambhv Steel Tubes IPO

Incorporated in 2017, Sambhv Steel Tubes Limited is a manufacturer of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India. The company's manufacturing facility is located in Village Sarora, Tehsil Tilda, Raipur, in the mineral-rich state of Chhattisgarh.
The company's iron ore is sourced from the "Navratna" public sector undertaking (PSU) mining company's mines, and coal from a "Maharatna" PSU through one of its highest coal-producing subsidiary, whose mines are Asia's largest coal mines and are merely 250 kilometres from the Sarora (Tilda) Facility. As of March 31, 2024, the company has a wide distribution network in India, which extends across 15 states and one union territory as of December 31, 2024.

Financial performance shows mixed trends with revenue declining from ₹1,289.38 crores in FY2024 to ₹1,018.81 crores in 9M December 2024 (annualised), while profit after tax declined from ₹82.44 crores to ₹40.69 crores. The company maintains good profitability metrics with 25.42% ROE, 17.66% ROCE, operates with a moderate debt-to-equity ratio of 0.80, and has a market capitalisation of ₹2,416.22 crores. Post-IPO P/E ratio of 44.54x appears expensive for a steel pipe manufacturer with declining financials.

Highlights of the Sambhv Steel Tubes IPO:

• IPO type: Book Building IPO
• IPO size: ₹540 crores
• Fresh Issue: ₹440 crores (5.37 crore shares)
• Offer for Sale: ₹100 crores (1.22 crore shares)
• Face value: ₹10 per share
• Issue price band: ₹77 to ₹82 per share
• Lot size: 182 shares
• Minimum investment for retail investors: ₹14,924 (1 lot, 182 shares)
• Minimum investment for sNII: ₹2,08,936 (14 lots, 2,548 shares)
• Minimum investment for bNII: ₹10,14,832 (68 lots, 12,376 shares)
• Employee discount: ₹4 per share
• Anchor investor allocation: ₹161.25 crores
• Book-running lead managers: Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited
• Registrar: Kfin Technologies Limited
• Listing at: BSE, NSE
• IPO opens: June 25, 2025
• IPO closes: June 27, 2025
• Allotment date: June 30, 2025
• Listing date: July 2, 2025