The ₹72.17-crore initial public offering of Vibhor Steel Tubes will open for public subscription today. The steel pipes and tubes manufacturer has set the price band at ₹141-151, and the market lot is 99 shares. The IPO will close for public subscription on Thursday

The entire issue is a fresh issue that will go to the Haryana-based company.

Up to 50 per cent of the net offer is reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutions.

As part of the IPO, Vibhor Steel Tubes has raised about ₹21.52 crore from anchor investors, by allotting 14.24 lakh shares to three entities at Rs 151 apiece. The anchor investors are Saint Capital Fund, Chhattisgarh Investments Ltd and Neomile Growth Fund - Series I.

Proceeds from the issue will be used for working capital requirements and for general corporate purposes.

Founded in 2003, Vibhor Steel Tubes is a manufacturer of high-quality steel tubes and pipes that are used in heavy engineering industries. The company’s product portfolio comprises ERW pipes for application in water transport, oil, gas and other non-toxic supplies, hot-dipped galvanised pipes for application in agriculture and infrastructure, hollow section pipes in square and rectangular forms, primer painted pipes and crash barriers for the railways, highways, and roads.

The company supplies its products to Jindal Pipes.

Khambatta Securities is the sole book-running lead manager, and Kfin Technologies is the registrar to the IPO.

The company’s shares will be listed on the National Stock Exchange (NSE) and BSE