Sambhv Steel Tubes IPO

About the company

Incorporated in 2018, Sambhv Steel Tubes Limited is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India. The company operates two manufacturing facilities located in Chhattisgarh. The company produces narrow-width HR coil, which allows the manufacturing of ERW black pipes and tubes of varying thickness as per customer requirements, reducing dependency on external HR coil suppliers and providing a competitive advantage. The company's rust-resistant products are tailored for wide application across multiple sectors, including housing and infrastructure, water transportation, agriculture, automobiles, telecommunications, oil and gas, engineering, solar energy, fire-fighting systems, and support structures of conveyors. The distribution network extends across 15 states and 1 UT as of December 31, 2024. The company's ERW pipes and tubes are available in different varying thickness ranges. As of March 31, 2025, the company had a total installed capacity of 1,698,000 MTPA compared to 1,122,400 MTPA as of March 31, 2024, representing significant capacity expansion. The company operates a captive power plant with an installed capacity of 25 MW as of March 31, 2025, expanded from 15 MW as of March 31, 2024, comprising a 16 MW waste heat recovery boiler (WHRB) and a 9 MW atmospheric fluidised bed combustion (AFBC) system. As of December 31, 2024, the company operates through 37 distinct distributors, with 2 distributors distributing through 6 branches, taking the total distributor network to 43 across 15 states and 1 union territory. These distributors further distribute finished products through over 700 dealers in India. The Indian steel industry presents a highly promising growth trajectory, with domestic steel demand expected to achieve a robust CAGR of 7-8% over FY25-FY30, rising from an estimated 152 MT in FY25 to 210-230 MT by FY30. This growth is underpinned by India's position as the world's second-largest steel producer with only 7.4% global market share, massive untapped potential with per capita consumption of just 98 kg versus the global average of 219 kg, and strong government commitment evidenced by the ₹10.7 lakh crore infrastructure budget allocation representing an 11.6% increase. The industry benefits from a favourable steel demand-to-GDP multiplier of 1.5-1.8, indicating steel consumption consistently outpaces economic growth, while key demand drivers including infrastructure development (25-30% of steel demand), building and construction (30-35%), and the automotive sector (11-13%) are all experiencing sustained expansion supported by government policies, affordable housing initiatives, and rising income levels. The company is strategically positioned to capitalise on the growing demand for ERW steel pipes and tubes, with domestic steel pipe demand projected to increase from 12.50-13.50 MTPA in FY25 to 18.50-20.50 MTPA by FY29 at 8-9% CAGR. According to the CRISIL Report, the company held approximately 2% market share in the domestic ERW pipes segment in India in terms of sales volume in FY24. The company is one of only 2 players in India manufacturing ERW steel pipes and tubes using narrow-width HR coil as of December 31, 2024, and is among a very limited number of players manufacturing stainless steel coils with backward integration, providing significant competitive positioning in the market. Now, Sambhv Steel Tubes Limited is launching its initial public offering (IPO), which consists of a fresh issue of equity shares worth up to ₹440 crore and an offer for sale worth up to ₹100 crore. The total issue size of the IPO is ₹540 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   25 Jun 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   27 Jun 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   30 Jun 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   01 Jul 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   01 Jul 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   02 Jul 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.