Investors subscribe Vibhor Steel Tubes IPO 101 times on day 2 of bidding

The initial public offer of steel pipes manufacturer Vibhor Steel Tubes Ltd was subscribed by a whopping 101.30 times on the second day of bidding on Wednesday. The IPO received bids for 36,39,20,733 shares against 35,92,445 shares on offer, garnering a 101.30 times subscription, as per NSE data. The portion for non-institutional investors subscribed 252.07 times, while the quota for retail individual investors (RIIs) received 90.11 times subscription. The category for qualified institutional buyers (QIBs) subscribed 8.52 times. On Monday, Vibhor Steel Tubes collected nearly Rs 22 crore from anchor investors. The price band has been fixed at Rs 141-151 per share. The IPO will close on Thursday, February 15. The Haryana-based Vibhor Steel Tubes's initial public offering (IPO) comprises a fresh issue of equity shares with a face value of Rs 10 each, aggregating to an issue size of up to Rs 72.17 crore through the book-building route. Proceeds from the issue will be utilised for wor

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