Sambhv Steel Tubes shares list on the exchanges today

Shares of Sambhv Steel Tubes will make their debut on the exchanges on Wednesday. The company has fixed the issue price at ₹82 per share.

The ₹540-crore initial public offering (IPO) of Sambhv Steel Tubes was subscribed 28.46 times as all categories of investors showed interest.

QIBs were more aggressive as their reserved quota saw a subscription at 62.32 times; the non-institutional investors’ portion was subscribed 31.82 times, followed by retail investors who subscribed 7.99 times their allocated portion. Employees’ window saw bids at 5.34 times.

The price band was set at ₹77-82 per share for its issue. The IPO is a mix of fresh issue of equity shares valued at ₹440 crore and an offer for sale (OFS) of shares worth ₹100 crore by promoters.

Proceeds from the fresh issue will be utilised for payment of debt and general corporate purposes.

Sambhv Steel Tubes has mobilised ₹161.25 crore from anchor investors, as part of the IPO process. WhiteOak Capital Mutual Fund (MF), Motilal Oswal MF, Nuvama Asset Management, Astorne Capital VCC Arven, Citigroup Global Markets Mauritius, Nomura Singapore, Societe Generale, and BNP Paribas Financial Markets, among others, have been allotted shares in the anchor round.

Sambhv Steel is a key manufacturer of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024.

According to a Crisil report, the demand for domestic steel pipes and tubes is expected to have grown at a compound annual growth rate (CAGR) of 5-6 per cent to 12.50-13.50 million tonne per annum (MTPA) in FY25 from 8.8 MTPA in FY19.

The growth was led by government initiatives to augment urban structural infrastructure and to infuse investments in the oil and gas sector.

Going forward, domestic steel pipe demand is projected to increase to 18.50-20.50 MTPA in FY29 at 8-9 per cent CAGR between FY25 and FY29 on a high base, the report added.

Nuvama Wealth Management and Motilal Oswal Investment Advisors are the book-running lead managers to the issue. Sambhv Steel Tubes is expected to list on the BSE and NSE on July 2.

Published on July 2, 2025