ELP Advises Lead Managers on Sambhv Steel Tubes’ ₹540 Crore IPO Filing

Economic Laws Practice (ELP) Guides Nuvama Wealth and Motilal Oswal in Draft Red Herring Prospectus for Sambhv Steel Tubes’ Public Offering

Economic Laws Practice (ELP) advised the book running lead managers, Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited in connection with the filing of the draft red herring prospectus of Sambhv Steel Tubes Limited (Company) to raise an amount aggregating up to Rs 4,400 million via fresh issue and sale of equity shares aggregating upto Rs 1,000 million via offer for sale through an initial public offering.

The Company is engaged in manufacturing of electric resistance welded (ERW) steel pipes and structural tubes in India through an in-house backward integration process for ERW steel pipes and tubes with presence across the value chain.

ELP’s team was led by Geeta Dhania Partner and assisted by Tripti Pandey Principal Associate, Ridhi J., Associate, Shreeya Srungarapu, Associate Abhishek Gupta, Associate and Anusha Agrawal, Associate.

Sambhv Steel Tubes Limited filed a draft red herring prospectus (DRHP) with the capital market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise ₹540 crore. The IPO consists of a fresh issue of equity shares amounting to ₹440 crore and an offer for sale (OFS) by existing shareholders worth ₹100 crore​.