The issue is open for trading on Wednesday (May 11, 2022) and will close on Friday (May 13, 2022). The price range for the IPO was fixed at Rs 310-326 per share. Investors can apply for a minimum of 46 shares and their multiples.
The offer includes a new issue of 50,74,100 shares. The company proposes to use the net proceeds from the offer to fund project costs for capacity expansion, technology upgrades, operating cost optimization and reverse integration of hollow pipe manufacturing, totaling Rs 107,945 crore. The company is also looking to meet the Rs 250 crore long-term working capital requirement and balance the overall corporate objectives.
Ahead of the IPO, Venus Pipes and Tubes has finally allocated 15,22,186 shares to anchor investors at an allocation price of Rs 326 per share for a total of Rs 49.62 crore on Tuesday 10 May 2022.
Venus Pipes & Tubes is a pipes and tubes manufacturer with the sole focus on manufacturing of welded and seamless pipes in a single metal category, ie, stainless steel (SS). Venus Pipes & Tubes is a pipes and tubes manufacturer with the sole focus on manufacturing of welded and seamless pipes in a single metal category, ie, stainless steel (SS). Venus Pipes & Tubes — производитель труб и труб, специализирующийся исключительно на производстве сварных и бесшовных труб из одной категории металлов, то есть из нержавеющей стали (SS). Venus Pipes & Tubes is a pipe and tube manufacturer exclusively specialized in the production of welded and seamless pipes from one category of metals, i.e. stainless steel (SS). Venus Pipes & Tubes 是一家管道和管材制造商，专注于制造单一金属类别的焊接和无缝管，即不锈钢(SS)。 Venus Pipes & Tubes Venus Pipes & Tubes — производитель труб и труб, специализирующийся на производстве сварных и бесшовных труб из одной категории металла — нержавеющей стали (SS). Venus Pipes & Tubes is a pipe and pipe manufacturer specializing in the production of welded and seamless pipes from one category of metal – stainless steel (SS). It manufactures two main categories of stainless steel pipes – seamless pipes/pipes and welded pipes/pipes. The company is currently manufacturing 5 product lines, namely – stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes and stainless-steel box pipes. The company is currently manufacturing 5 product lines, namely – stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes and stainless-steel box pipes. The company currently produces 5 product lines, namely stainless steel precision and heat exchange tubes, stainless steel hydraulic and instrumentation tubes, stainless steel seamless tubes, stainless steel welded tubes and stainless steel box tubes. At present, the company produces 5 product lines: stainless steel high precision heat exchange tubes, hydraulic stainless steel tubes, stainless steel seamless tubes, stainless steel welded tubes and stainless steel box tubes.
Venus Pipes and Tubes reported a net income of Rs 23.60 crore on a total income of Rs 276.77 crore for the nine months ending December 2021.
(This story was not edited by Business Standard staff and was automatically generated from a syndicated feed.)
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