Sambhv Steel Tubes IPO to open on Jun 25; sets price band at Rs 77-82 per share
Sambhv Steel Tubes on Friday set a price band of Rs 77-82 per share for its upcoming Rs 540-crore initial public offering (IPO).
ADVERTISEMENT The initial share sale will open for public subscription on June 25 and conclude on June 27, the company said.
The IPO is a mix of fresh issue of equity shares valued at Rs 440 crore and an offer for sale (OFS) of shares worth Rs 100 crore by promoters.
Proceeds from the fresh issue will be utilised for payment of debt and general corporate purposes. Sambhv Steel Tubes is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024. According to a Crisil report, the demand for domestic steel pipes and tubes is expected to have grown at a compound annual growth rate (CAGR) of 5-6 per cent to 12.50-13.50 million tonnes per annum (MTPA) in FY25 from 8.8 MTPA in FY19.
ADVERTISEMENT The growth was led by government initiatives to augment urban structural infrastructure and to infuse investments in the oil and gas sector. Going forward, domestic steel pipe demand is projected to increase to 18.50-20.50 MTPA in FY29 at 8-9 per cent CAGR between FY25 and FY29 on a high base, the report added.
ADVERTISEMENT
Sambhv Steel Tubes announced that half of the offer size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Nuvama Wealth Management Ltd and Motilal Oswal Investment Advisors Ltd are the book-running lead managers to the issue. Sambhv Steel Tubes is expected to list on the BSE and NSE on July 2. PTI
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
38 minutes ago
- India Today
HAL to manufacture, launch Isro-developed SSLV, technology trasfer to begin
In a landmark move for India's space sector, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) has officially transferred the Indian Space Research Organisation's (Isro) Small Satellite Launch Vehicle (SSLV) technology to Hindustan Aeronautics Limited (HAL).This transfer empowers HAL to take charge of manufacturing, marketing, and launching the SSLV for commercial small satellite missions, marking a new era of private sector participation in India's space contract will be signed between HAL, Isro, NSIL and In-Space to begin the transfer process. The SSLV, developed by Isro, is designed to provide cost-effective, on-demand launches for satellites weighing up to 500 kg into low Earth flexibility and rapid turnaround make it ideal for the booming global market of small satellites, which are increasingly used for communications, earth observation, and transfer of SSLV technology is seen as a strategic step to boost India's share in the global satellite launch market, which is projected to grow significantly in the coming years."Our vision is to drive the growth of the space sector through increased private participation. We're focusing on the small satellite launch market, with the SSLV now fully proven. Startups like Skyroot and Agnikul are gearing up for their first orbital launches, and within the next two years, we aim to establish a robust, battle-tested small satellite launch capability. To support this, we are developing a third launch pad, setting up a manufacturing unit in Tamil Nadu, and building the necessary infrastructure to make India a globally attractive destination for small satellite launches," IN-Space Chairman Pawan Goenka said. advertisementHe added that the goal is to achieve a launch every two weeks. "Market share will ultimately be determined by performance, competitiveness, rocket reliability, and cost-effectiveness of these three organisations," Goenka the agreement, HAL will not only manufacture the SSLV but also handle its commercial operations, including marketing and launch services for domestic and international is the first time India has fully privatised a launch vehicle program, going beyond manufacturing contracts to grant a private entity end-to-end responsibility for a national move follows a rigorous selection process. The final competition was between Alpha Design, HAL and Bharat Dynamics. HAL won the contract with a bid amount of Rs 500 will provide HAL with the full design know-how and technical support during the initial is expected to build the first two SSLVs with Isro's assistance before independently manufacturing and launching subsequent technology transfer includes not just hardware but also the operational expertise required to assemble, integrate, and launch the collaboration is expected to accelerate India's ambitions in the commercial space sector, enabling faster, more frequent launches and attracting global customers seeking reliable and affordable satellite successful handover of SSLV technology to HAL is a testament to India's maturing space industry and the government's commitment to fostering innovation and private enterprise in Watch
Time of India
39 minutes ago
- Time of India
Near-term impact of Iran Israel conflict on most Indian firms is expected to be limited, says Crisil
The ongoing uncertainties in the Middle East has not had significant impact on India Inc's global trade, so far. However, if the situation deteriorates, some sectors such as basmati rice could see heightened impact and will require monitoring, while others like fertilisers and diamonds — both cut and polished — may also see some impact, said ratings agency Crisil. "That said, the uncertainties have impacted global crude oil markets, with Brent hovering in the range of $73-76 per barrel (bbl) over the past one week — up from an average of ~$65 per bbl during April-May 2025. While this is still lower than the fiscal 2025 average of ~$78 per bbl, any escalation of tensions, say through disruption of energy supply chains, could result in a further spike in oil prices. If crude oil prices continue to be elevated over longer periods, it could impact India Inc's profits," said Crisil in a media release. It added, "Also, prolonged and increasing uncertainties can result in a rise in air/sea freight cost and insurance premiums for export/import-based sectors, so will bear watching." According to Crisil, India's direct trade with Israel and Iran is minuscule at less than 1% of the total trade involving India last fiscal. While India's major export to Iran is basmati rice, trade with Israel is more diversified, and includes fertilisers, diamonds and electrical equipment. The data with Crisil shows that Iran and Israel accounted for about 14% to India's basmati rice exports in fiscal 2025. Live Events "But because basmati rice is a staple, the impact on demand because of the ongoing tensions is likely to be limited. Additionally, India's ability to export to other countries in the Middle East, the US and Europe reduces demand risk. But a prolonged crisis can lead to possible delays in payment from counterparties in these regions, elongating the working capital cycle," the release stated. For domestic diamond polishers, Israel is mainly a trading hub, accounting for about 4% of the total diamond exports last fiscal. Additionally, about 2% of all rough diamonds imported are from Israel. "Polishers also have alternative trading hubs such as Belgium and the United Arab Emirates, with ultimate buyers based in the US and Europe, which will help them to manage any adverse impact on the sector," said Crisil. As for the fertiliser sector, Israel is a major global producer of muriate of potash (MoP) and was one of the larger exporters to India last fiscal ( about 7% of India's MoP imports). "However, the share of MoP (as a final product or as an ingredient in other fertilisers) remains low at less than 10% of domestic fertiliser consumption. India's ability to source MoP from other countries also lowers the supply risk and will limit any material impact on the sector," the release said. Crisil thinks that higher oil prices will benefit upstream oil companies because it translates to more revenue, while their costs are fixed. For downstream oil refiners, operating margins could get squeezed due to higher input cost as they may have limited ability to fully pass on the same through increase in retail fuel prices. "For specialty chemical companies, about 30% of the operating cost is crude linked. Here, the ability to pass on steep rise in input cost would be limited as the sector is only just witnessing return to normalcy after seeing profitability pressures due to suppressed demand compounded by continued Chinese dumping and inventory correction by suppliers over the past two fiscals," said the ratings agency. It added, "The paint sector could see some pressure on margin as about 30% of its production cost is linked to crude, where competitive intensity could limit the ability to pass on elevated input prices to customers and impact profitability to some extent." For aviation companies, fuel accounts for about 35-40% of operating cost. "Further, the operators will also witness higher fuel cost due to increased travel time on account of airspace closures/diversions. Nonetheless, healthy demand sentiment is likely to provide some cushion to the margins," the release said. About half of the tyre sector's operating cost is crude linked. "As for revenue, 60-65% accrues from the replacement market and the balance from original equipment manufacturers (OEMs). While the tyre makers can quickly pass on input price increases in the replacement market with relative ease, the pass-on normally happens with a lag for OEM sales which could impact margins in the interim," said Crisil. "For flexible packaging and synthetic textile firms, while over 70-80% of production cost is crude linked, the impact of an increase in its price could be moderate due to the improved demand-supply scenario and firm's ability to pass on cost to customers, albeit with a slight lag," the release said. According to Crisil, the near-term impact on most Indian firms is expected to be limited, with low capex intensity and balance sheet strength of companies offering cushion from potential vulnerabilities. "However, a prolonged escalation could aggravate the impact mainly due to rise in oil prices and disruption in supply chains which could stoke inflation," it cautioned.
India Today
40 minutes ago
- India Today
Honda City Sport launched at Rs 14.89 Lakh; limited edition with sporty flair
Honda Cars India Limited (HCIL) has launched the City Sport at Rs 14,88,900 (ex-showroom), a new variant of the sedan. Infused with a sportier identity and enhanced visual flair, the City Sport is a limited edition offering that brings a bold refresh to the City City Sport is crafted for those who carry a zest for individuality and spirited living. The car features a series of aggressive visual upgrades and thoughtful cabin enhancements, designed to appeal to a generation that seeks a statement on the the exterior, the City Sport makes an immediate impression with a gloss black front grille, black trunk lip spoiler, black shark fin antenna, and a special Sport emblem. Blacked-out ORVMs and new multi-spoke grey alloy wheels add further to its athletic presence. Offered in three shades -- Radiant Red Metallic, Platinum White Pearl, and Meteoroid Gray Metallic. Step inside, and the cabin greets you with an all-black interior theme enriched with red contrast stitching across the leather seats, soft-touch door inserts, and steering wheel. The sporty ambience is elevated with black roof lining, red dashboard accents, and glossy black AC vents. The standout feature remains the 7-colour ambient lighting, curated to amplify the sporty aesthetic and create a premium in-cabin the hood, the City Sport retains Honda's 1.5-litre i-VTEC petrol engine, now E20 fuel compliant. It delivers 121bhp of power and 145Nm of torque, mated to a CVT with paddle shifters and has a claimed fuel efficiency of 18.4 km/ terms of safety, the City Sport gets Honda Sensing, the brand's advanced driver assistance system (ADAS), which adds intuitive safety features for a more confident on the launch, Kunal Behl, Vice President, Marketing & Sales, Honda Cars India said, "The new City Sport has been crafted to meet the aspirations of young buyers who value individuality and a spirited driving experience. It embodies a perfect blend of sporty exterior and interior style, fun to drive performance and the everyday usability that Honda City is known for, at a price that makes it even more compelling."With limited units available, the City Sport stands as a refreshed offering for those who want the practicality of a sedan without compromising on style, sportiness, or to Auto Today Magazine
