Vibhor Metal Tubes soars 181% on market debut

NEW DELHI: Vibhor Metal Tubes, producer of metal pipes listed with premium of 181 % towards its situation worth of Rs 151 at Indian bourses on Tuesday.On the NSE, the inventory commenced buying and selling at Rs 425, a surge of 181.46 % from the problem worth. Equally, on the BSE, shares of Vibhor Metal Tubes started buying and selling at Rs 421, marking a rise of 178.81 %.The inventory reached Rs 442 apiece on the BSE, a rise of 192.72 % from the problem worth. Firm’s market valuation within the morning commerce stood at Rs 838.14 crore on the BSE.Sensex, throughout morning commerce rose by 88.40 factors or 0.12 % to 72,796.56, whereas Nifty recorded a marginal improve of 15 factors to succeed in 22,122.10.Final week, Vibhor Metal Tubes’ preliminary public providing (IPO) subscriptions reached practically 300 occasions on the ultimate day, pushed primarily by institutional buyers.Headquartered in Haryana, Vibhor Metal Tubes Ltd (VSTL) supplied a contemporary situation of fairness shares with a face worth of Rs 10 every, totaling as much as Rs 72.17 crore by means of the book-building route.Established in 2003, Vibhor Metal Tubes focuses on manufacturing high-quality metal tubes and pipes, catering to numerous heavy engineering industries throughout India.

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