Sambhv Steel Tubes launched its IPO today, June 25, 2025, with the subscription window closing on June 27, 2025. The IPO aims to raise INR 540 crore. The price band is set between INR 77 and INR 82 per share, and the minimum lot size is 182 shares. The IPO consists of a fresh issue of shares worth INR 440 crore and an offer for sale (OFS) of INR 100 crore. Here’s a summary of Sambhv Steel Tubes IPO recommendations by major brokerage houses. The company’s several brokerage houses have provided recommendations based on their analyses of its financial health and market potential. Read on for more.
Sambhv Steel Tubes IPO Recommendations
Canara Bank Securities – Subscribe for long term
Canara Bank Securities added another positive word in the Sambhv Steel Tubes IPO recommendations. “On the valuation front, the company is priced at a P/E of 36.39x (annualised 9M FY25) and 21.64x (FY24), versus a peer average of ~27.14x. Its P/B stands at 4.13x (9M FY25) and 4.51x (FY24), slightly above the peer average of ~4.64x. While the valuations appear marginally premium, they are backed by the company’s unique integration model, improving product mix, and a strong growth outlook. We recommend a SUBSCRIBE rating for long-term investors, considering Sambhv’s compelling fundamentals, cost advantages, and sectoral tailwinds.”
Read Also: HDB Financial Business Model Analysis
SBI Securities – Subscribe for long term
Analysts at SBI Securities have adopted a more optimistic stance, assigning a subscribe rating for long-term investors. “The company is valued at an annualized EV/EBITDA multiple of 18.2x and a P/E multiple of 44.5x for 9MFY25, based on the upper price band and postissue capital. Sambhv Steel Tubes stands out as one of the few players in India with a backward integration facility, enabling it to offer a diverse portfolio of premium products in a cost-efficient manner. Between FY24–FY25, the company enhanced its manufacturing capabilities to include Stainless Steel (SS) Bloom, SS Hot Rolled Coils, SS Cold Rolled Coils and SS HRAP Coils—products known for their high margin potential.
Additionally, it commenced production of Pre-Galvanised (GP) pipes and GP pipes, further expanding its value-added offerings. The proceeds from the issue will be used primarily to reduce debt, thereby lowering interest costs and strengthening the balance sheet. With ramp up in capacity utilization of CR coils (SS) and Pre-galvanized (GP) pipes expected over the next 2-4 quarters, margins are likely to expand. Strong industry tailwinds, robust backward integration and a growing portfolio of value-added products, the company is well-positioned for sustained growth. We recommend investors to subscribe the issue at cut-off price with a long-term investment horizon”.
Samco Securities – Subscribe for long term
Analysts at Samco Securities added further to the positive Sambhv Steel Tubes IPO recommendations. “In terms of valuation, the company is attractively priced at a P/E of 21, compared to the industry average of approximately 32. Considering its strong fundamentals, competitive margins, reasonable valuation, and the promising industry outlook, the company appears to be a compelling long-term investment opportunity.”
Read Also: Kalpataru IPO: From Debt Levels to Future Plans, Everything You Need to Know
BP Wealth – Subscribe
BP Wealth has recommended that investors with a subscribing tolerance consider applying for the Sambhv Steel Tubes IPO. “The issue is valued at a P/E of 36.4x on the upper price band based on FY25 annualized earnings, which is deemed fair. Therefore, we recommend a SUBSCRIBE rating for the issue”.
Marwadi Financial – Subscribe
“Considering the FY24 EPS of Rs 2.80 on a post issue basis, the company is set to list at a P/E of approximately ~29.31x with a market cap of Rs 2,416.22 Cr, whereas its peers namely APL Apollo Tubes Ltd, Hariom Pipes Industries Ltd, Hi-Tech Pipes Ltd, JTL Industries Ltd, Rama Steel Tubes Ltd and Surya Roshni Ltd are trading at P/E ratios of approximately ~65x, 20x, 28x, 29x, 84x and ~22x, respectively. We assign “Subscribe” rating to this IPO as company is well-positioned to take advantage of the growing demand for quality ERW steel pipes and tubes with its strong process innovation and execution capabilities. Also, it is available at reasonable valuation as compared to its peers”.
Read Also: All-Time Largest IPOs in India at a Glance
The following are more analyst insights that highlight the common trends in brokerage house recommendations for the ongoing IPO. Here’s a more extensive list of broker suggestions:
- Bajaj Broking – Subscribe for long term
- Axis Capital – Not rated
- Jainam Broking – Subscribe for long term
- Kunvarji Wealth – Subscribe for long term
- SMC Global – 2/5
- Capital Market – Neutral
- Choice Broking – Subscribe for long term
- Ventura Securities – Subscribe
- GEPL Capital – Avoid
Sambhv Steel Tubes IPO Recommendations – Bottomline
In conclusion, brokerage houses are generally optimistic about the Sambhv Steel Tubes IPO, recommending subscriptions based on varying risk appetites and investment horizons. While some firms advocate for long-term investments due to growth potential, others emphasize caution due to market volatility and company size considerations.
While Sambhv Steel Tubes IPO analyst views are mostly positive for the long term, the informal or grey market is presenting confusing signals with a remarkable decline in premiums in recent days. Nevertheless, investors are encouraged to assess their risk profiles and conduct thorough research before participating in this IPO. For more information related to IPO GMP, SEBI IPO Approval, Live Subscription, stay tuned to IPO Central.