Sambhv Steel's debut sees 13% drop from listing price
Sambhv Steel Tubes made its stock market debut with a 13% drop from its listing price of ₹110 to ₹96.25, as many investors rushed to book quick profits.
Despite the dip, trading was intense—about 4.9 crore shares changed hands by early afternoon, racking up a hefty ₹500 crore in turnover and showing that interest in the company is still high.
Sambhv Steel's IPO raised ₹540 crore
Sambhv Steel's recent IPO raised ₹540 crore and was snapped up quickly, especially by big institutional players and high-net-worth folks.
The company stands out as India's only single-location maker of ERW pipes and steel tubes, thanks to its Chhattisgarh base close to raw materials.
Even with the rocky start, analysts are upbeat about Sambhv's future—its debt is down post-IPO and India's growing need for infrastructure could work in its favor.