Vibhor Steel Tubes shares hit lower circuit a day after stellar listing

Shares of Vibhor Steel Tubes Ltd were stuck in the lower circuit today, a day after their stellar listing. The stock fell 5% to Rs 419.90 against the previous close of Rs 442 on BSE.

Market cap of the steel products maker slipped to Rs 796.23 cr on BSE. A total of 0.24 lakh shares of Vibhor Steel Tubes changed hands amounting to a turnover of Rs 1.02 crore on BSE.

On NSE too, the Vibhor Steel Tubes stock fell 5% lower at Rs 423.95 against the IPO issue price of Rs 151 on BSE.

Market cap of the steel products maker slipped to Rs 803.91 cr on BSE. A total of 0.61 lakh shares of Vibhor Steel Tubes changed hands amounting to a turnover of Rs 2.59 crore on BSE.

The stock made a stellar listing on Tuesday surging 181% to the IPO issue price. It opened at Rs 425 against the IPO price of Rs 151 per share on NSE. On BSE, the stock opened 179% higher at Rs 421. Market cap of Vibhor Steel Tubes climbed to Rs 798.32 crore.

Later, the steel stock closed 195% higher to the IPO price on Tuesday. Vibhor Steel Tubes stock ended at Rs 446.25 against the IPO issue price of Rs 151 on NSE. The steel stock ended 5% or Rs 21.25 higher against the listing price of Rs 421.Market cap of the firm rose to Rs 846.19 crore on NSE.

Vibhor Steel Tubes shares ended 193% higher at Rs 442 on BSE compared to the IPO issue price. Market cap of the steel firm stood at Rs 838.14 crore.

The IPO was held from February 13 to February 15. The price band of Vibhor Steel Tubes IPO was fixed at Rs 141 to Rs 151 per share. The company raised Rs 72.17 crore from the IPO. Prior to the initial share sale, the Haryana-based firm raised Rs 21.51 crore from anchor investors.

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