Day 3 Subscription Status
As of 1 PM on June 27, the IPO had been oversubscribed 6.6×, driven by robust interest from institutional and retail investors:
- QIBs: ~6.3×
- NIIs: ~12.7× (strongest support)
- Retail: ~4.1× navbharattimes.indiatimes.com+15business-standard.com+15m.economictimes.com+15
Grey Market Premium (GMP)
Grey market is indicating a premium of ₹9–10, reflecting an 11%–12% upside over the upper price band of ₹82, signalling moderate listing gains economictimes.indiatimes.com+11livemint.com+11m.economictimes.com+11.
🧾 IPO Overview
- Price Band: ₹77–₹82
- Lot Size: 182 shares (Min. investment ≈ ₹14,924)
- Total IPO Size: ₹540 crore
- Fresh Issue: ₹440 crore
- Offer for Sale (OFS): ₹100 crore
- Dates:
- Subscription closes: June 27, 2025
- Basis of allotment: June 30, 2025
- Demat credit: July 1, 2025
- Listing: July 2, 2025 (NSE & BSE)
Company Profile
A Chhattisgarh-based ERW steel tubes and pipes manufacturer, offering backward-integration for cost efficiency. It targets debt repayment and capacity expansion using IPO proceeds. Prominent anchor investors (Nomura, Citigroup, BNP Paribas) subscribed at ₹82/share
⚠️ Risks & Recommendations
🔼 ✅ Reasons to Apply:
- Steady demand across investor categories
- GMP suggests healthy listing potential
- Focused debt reduction and capacity expansion
- Backed by reputable anchor investors
🔽 ⚠️ Risks:
- Cyclical sector exposure
- Potential margin pressure with steel prices
- Wider P/E (~44×) implies pricing may be high for conservative investors
Final Verdict
If you’re aiming for listing gains, the current GMP of ₹9–10 reflects about 11–12% upside—reasonable given the solid subscription. For long-term investors, this issue could be attractive, considering its integration play and planned debt repayment. However, proceed only if you’re comfortable with steel sector cyclicality and valuations.
⚠️ Disclaimer
This post is based on market data as of June 27, 2025. It is for educational purposes only, and not financial advice. Consult a certified financial advisor before investing.
❓FAQs
Q1. What’s the current SMP of Sambhv Steel IPO?
A: It’s at ~₹9–10, meaning fair listing expectation at ₹91–₹92. moneycontrol.com+6business-standard.com+6m.economictimes.com+6
Q2. Has the IPO been oversubscribed?
A: Yes—6.6× overall (6.3× QIB, 12.7× NII, 4.1× Retail). business-standard.com+1livemint.com+1
Q3. When is the IPO listing scheduled?
A: July 2, 2025, on NSE & BSE.
Q4. Is it worth investing?
A: For listing gains, GMP looks good. For long-term, fundamentals and debt plans are positive—but sector volatility remains a factor.
