Sambhv Steel Tubes IPO allotment today: Here's how to check
What's the story
Sambhv Steel Tubes is expected to announce the allotment status of its ₹540 crore initial public offering (IPO) today. The company's IPO, which opened for subscription from June 25-27, was heavily subscribed by investors. The issue was subscribed over 28 times overall on the last day of subscription. This includes a massive 62 times subscription in the Qualified Institutional Buyer (QIB) segment and nearly 32 times in Non-Institutional Investors (NII).
Retail interest
Retail portion and anchor investors
The retail category of the Sambhv Steel Tubes IPO was subscribed eight times. The company had also raised ₹161.25 crore from anchor investors a day before its public issue opened. The mainboard IPO consisted of a fresh issue of shares worth ₹440 crore and an offer-for-sale (OFS) portion worth up to ₹100 crore, with each share priced at ₹82.
Checking process
How to check the allotment status?
Investors can check their application status through two official methods: via the registrar's website (KFin Technologies) or the BSE website. On KFin Technologies, they need to select "Sambhv Steel Tubes Limited" from a dropdown and enter either PAN, application number, or DP client ID. On BSE's site, they have to select "Equity" under issue type and then choose "Sambhv Steel Tubes Limited."
Important dates
Listing on July 2
Refunds for unallotted shares will be processed on July 1, while shares will be credited to demat accounts on the same day. The listing of Sambhv Steel Tubes is scheduled for July 2. Incorporated in 2017, the company manufactures electric resistance welded (ERW) steel pipes and structural tubes from its backward-integrated facility in Chhattisgarh. It caters to infrastructure, construction, and industrial sectors across 15 Indian states and one union territory.