Venus Pipes & Tubes IPO: Here’s how you can check the allotment status
- Venus Pipes & Tubes is likely to announce its share allotment status today.
- The IPO of the Gujarat-based company, that manufactures pipes and tubes made from stainless steel IPO, was subscribed 16.31 times.
- The IPO will be listed on May 24 on exchanges.
AdvertisementVenus Pipes & Tubes, which is a Gujarat-based company that manufactures pipes and tubes, is likely to announce the allotment status of its initial public offering (IPO) today, May 19.
The IPO opened for subscription from May 11 to May 13. It received bids for 5.79 crore equity shares as against 35.51 lakh shares on offer.
The IPO received good demand from investors as it was subscribed for 16.31 times the number of shares offered in the three days of IPO bidding process. Moreover, the grey market premium of the company’s shares show a premium of ₹45 from the higher end of the price band of ₹326 .
The portion reserved for retail investors was oversubscribed by 19.04 times on the last day of the IPO bidding process.
The proceeds from the IPO will be used to finance capacity expansion and to meet the long-term working capital requirements of the company.
Here is how to Venus Pipes & Tubes IPO allotment status on stock exchange website:
- Go to the BSE website or NSE website here.
- On BSE, Select 'Equity' and then from the dropdown, select ‘Venus Pipes & Tubes’..
- Now, enter your application number and PAN.
- Click on 'Search'.
- Please note the details will only be available once the shares are allotted.
- Visit the registrar's website here.
- Click on 'Select company' and click on ‘Venus Pipes & Tubes’.
- Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.
- Enter the captcha and click ’submit’.
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