Sambhv Steel Tubes IPO: GMP, Overview, And Price

Sambhv Steel Tubes IPO – Complete Overview

Sambhv Steel Tubes IPO is a Book Built IPO aggregating up to ₹540 crore is entering in the market by Sambhv Steel Tubes Private Limited. The issue includes a fresh issue of ₹440 crore and an Offer for Sale (OFS) of ₹100 crore.

The company, previously known as Sambhv Sponge Power Pvt Ltd, manufactures high-quality steel tubes and pipes and operates in Raipur, Chhattisgarh. Sambhv caters to a variety of sectors and has expanded its footprint with the inclusion of its subsidiary Sambhv Tubes Pvt Ltd.

 

Products:

• Sponge Iron: Primarily used as a raw material in the production of crude steel, such as blooms and slabs.

• Blooms/Slabs (Mild Steel and Stainless Steel): Semi-finished steel products that are further processed into various long and flat finished steel items.

• Narrow-Width HR Coils (Mild Steel and Stainless Steel): Mostly utilized in-house to produce ERW black pipes and tubes. Surplus coils are sold to external manufacturers who use them as input material.

• GI Pipes and Tubes: Supplied mainly to distributors and directly to end consumers, including participants in select government infrastructure projects.
  
  

Company Financial

(Amount in Cr)

Period	31 Dec 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Total Assets	1411.82	940.13	552.14	458.51
Total Revenue	1,018.81	1289.38	939.0	820.75
PAT	40.69	82.44	60.38	72.14
Net Worth	478.46	438.28	210.40	149.30
Reserves & Surplus	-	197.28	190.31	129.21
Borrowings	619.15	346.88	282.77	241.2

 

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31Dec2024 (Consolidated)	31Mar2024 (Standalone)	31 Mar 2023 (Standalone)	31 Mar 2022 (Standalone)
Net Cash Flow Operating Activities	(421.26)	1,424.28	655.52	344.95
Net Cash Flow Investing Activities	(2,001.28)	(3,116.00)	(849.00)	(1,002.48)
Net Cash Flow Financing Activities	2,357.44	1,765.59	194.85	656.84

 

Revenue Bifurcation

Customer-wise Revenue Bifurcation

 

 

The Objective of the Issue

The net proceeds from the Fresh Issue will be utilized for:

• Funding capital expenditure to enhance manufacturing capacity

• Repayment or prepayment of borrowings

• General corporate purposes
  
  

Peers of Sambhv Steel Tubes IPO

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Sambhv Steel Tubes Limited	10	3.79	21.63
APL Apollo Tubes Limited	2	26.40	68.52
Hariom Pipes Industries Limited	10	20.34	21.15
Hi-Tech Pipes Limited	1	3.25	35.52
JTL Industries Limited	2	6.63	10.16
Rama Steel Tubes Limited	1	0.50	24.27
Surya Roshni Limited	5	30.51	10.98

 

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 39.34x.

Particulars	P/E Ratio (x)
Highest	68.52
Lowest	10.16
Average	39.34

In simple words, the P/E ratio of this IPO is 21.63x, compared with the industry’s average P/E of 39.34x  has an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.

If you want to apply for the IPO, click to open a Demat Account.

IPO Strengths

• Diversified product offerings in steel tubes

• Strategic expansion through its subsidiary

• Strong promoter backing and industry presence

• End-to-end manufacturing facilities

 

 

IPO Weaknesses

• Exposed to cyclicality of steel prices and construction demand

• Limited listing history — first-time IPO

• High dependency on industrial demand

• Not a dividend-paying company so far
  
  

Sambhv Steel Tubes IPO GMP

Sambhv Steel Tubes IPO's latest GMP is ₹8 (as of June 20, 2025, 1:54 PM).
With a price band of ₹82, the estimated listing price is ₹90 — a potential gain of 9.76%.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Jun 25, 2025
IPO Closing Date	Jun 27, 2025
IPO Allotment Date	Jun 30, 2025
Refund Initiation	July 01, 2025
IPO Listing Date	July 2, 2025

 

Sambhv Steel Tubes IPO Details 

IPO Opening & Closing Date	25 June, 2025 to 27 June, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 77 to Rs. 82 per Share.
Lot Size	182  Shares
Issue Size	6,58,53,657  Shares (Rs. 540.0 Cr)
Offer for Sale	1,21,95,121 Shares (Rs. 100.0 Cr)
Fresh Issue	5,36,58,536  Shares (Rs. 440.0 Cr)
Listing at	NSE, BSE
Issue Type	Book building Issue
Registrar	Kfin Technologies Limited

 

 

IPO Lot Details

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lot
HNI (Min)	68 Lots

 

Promoters and Shareholding

• Promoters: Brijlal Goyal, Suresh Kumar Goyal, Vikas Kumar Goyal, Sheetal Goyal, Shashank Goyal, and Rohit Goyal

• Selling Shareholders: Includes promoter family (OFS of ₹100 Cr by Shashank, Rohit, Kaushlya, Harsheet, and Rinku Goyal)

 

IPO Lead Managers

• Nuvama Wealth Management Ltd

• Motilal Oswal Investment Advisors Ltd

Registrar

• KFin Technologies Limited

 

 

Dividend Policy

As per the RHP, the company has not declared any dividend in recent years. Future dividend payout will depend on profits, capex, and board approval.

Conclusion

Sambhv Steel Tubes IPO offers investors exposure to India's core infrastructure and construction sectors. With planned expansion, a strategic product portfolio, and seasoned promoters, the company is set for long-term growth. However, investors should evaluate the cyclic nature of steel and check valuations post price band release.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.