On the other hand Borana Weaves will see its three-month shareholder lock-in end, due to which, 15 lakh shares or 6% of its outstanding equity become eligible for trading.
It must be noted that the shareholder lock-in period ending does not mean all the shares will be sold in the open market, they only become eligible to be traded.
Vibhor Steel Tubes still stands as one of India’s most subscribed IPOs, with an overall subscription of over 300x the total number of shares on offer.Similar to its subscription, the stock nearly tripled on the day of its listing, making its debut at ₹425, a premium of 151% to its issue price of ₹151.
However, the stock has not managed to see those levels again since the listing in February 2024, as a sharp correction has dragged the stock back to its IPO price. The company has not issued any bonus shares or carried out a stock split.
Borana Weaves had an equally strong IPO if not better in May this year, with overall subscription reaching nearly 150x the total shares on offer. However, similar to Vibhor Steel, the stock still remains at its IPO price of ₹216.
The elevated subscription figures could also be attributed to the smaller IPO size for both these stocks. Vibhor Steel’s IPO was only worth ₹72 crore, while Borana Weaves was worth over ₹140 crore.
