Sambhv Steel IPO Sees Strong Surge on Day 2, Overall Subscription at 1.76 Times

Mumbai, June 26, 2025 | 5:03 PM IST – The IPO of Sambhv Steel Tubes Ltd witnessed a strong rebound on the second day of bidding, with the overall issue subscribed 1.76 times. A total of 8.66 crore bids have been received against 4.92 crore shares on offer, indicating growing investor interest across all categories.

Category-Wise Subscription Status (Day 2)

Non-Institutional Investors Lead the Charge

• Non-Institutional Investor (NII) category saw the sharpest jump in demand, oversubscribed by 3.12x.
  • Bids above ₹10 lakh: 2.83x
  • Bids between ₹2 lakh to ₹10 lakh: 3.70x
  • The segment garnered over 3.26 crore bids against 1.04 crore shares on offer.

Retail Investors Maintain Momentum

• Retail Individual Investors (RIIs) have subscribed 1.83x, bidding for over 4.47 crore shares.
  • Of these, 3.72 crore shares were applied at the cut-off price, showing strong conviction among retail participants.

QIBs Yet to Catch Up

• Qualified Institutional Buyers (QIBs) continue to lag, with a subscription of just 0.61x.
  • Mutual funds remained steady at 30.43 lakh shares, while other QIBs contributed 54.77 lakh shares.
  • Participation from FIIs and banks remains minimal as of now.

Employee Quota Fully Subscribed

• The employee segment also crossed full subscription, reaching 1.51x, with 5.18 lakh shares bid for against 3.42 lakh shares allocated.

Key IPO Details

• Price Band: ₹77 to ₹82 per share
• Issue Size: ₹540 crore
• Lot Size: 182 shares and in multiples thereafter
• IPO Close Date: Friday, June 27, 2025
• Listing Date: Expected on Wednesday, July 2, 2025

The offering includes a fresh issue of ₹440 crore and an offer for sale (OFS) of ₹100 crore, with proceeds intended primarily for debt repayment and corporate purposes.

Outlook

With retail and high-net-worth individuals showing strong interest, all eyes are now on QIB participation on the final day, which typically sees the bulk of institutional bidding. Sambhv Steel IPO is now firmly on track for full subscription and potentially more, heading into the final leg.

Disclaimer:  At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations