Sambhv Steel Tubes

HDB Financial Services share price rose 7% as a lock-in period for certain shareholders ends, releasing 23 million shares. Conversely, Sambhv Steel Tubes dropped nearly 6% due to 10 million shares being released. Lock-in periods help stabilize stock prices post-IPO by preventing immediate sell-offs.

Backed by Niveshaay, the company excels in ERW pipe manufacturing and in-house production of narrow-width coils, aiming to double capacity every three years.

Sambhv Steel Tubes shares rose over 6% after a strong debut, closing at ₹ 97.58 with a 19% gain. The IPO, oversubscribed 28.46 times, was priced between ₹ 77 and ₹ 82. The market capitalization reached ₹ 2,875.40 crore.

The stock debuted stronger than anticipated, exceeding expectations indicated by the grey market premium, which had pointed to a 17 per cent gain at listing.

The grey market premium (GMP) for Sambhv Steel Tubes IPO is currently +14, suggesting that its shares are trading at a premium of ₹ 14 in the unofficial market, as per investorgain.com.

Sambhv Steel Tubes IPO is set for listing on June 25, with allotment finalised on June 30. Shares will be credited to demat accounts on July 1. The IPO was oversubscribed 28.46 times, with retail, NII, and QIB segments seeing high interest.

Sambhv Steel Tubes IPO allotment will be finalised today. The IPO saw a subscription of 28.46 times. Refunds commence on July 1, with shares listed on July 2. The grey market indicates a premium of ₹ 14, suggesting a strong listing.

The coming week will witness opening of Crizac Limited IPO and Travel Food Services IPO in the mainboard segment along with five public issues in the SME segment.