Venus Pipes & Tubes IPO opens today — check out important details related to the IPO
- Venus Pipes is a manufacturer and exporter of stainless steel pipes and tubes, and it is planning to raise ₹165 crore from the public.
- The Venus Pipes IPO is open for subscription from today (May 11) and will conclude on May 13.
- The price band of the issue is fixed at ₹310-325 per share.
AdvertisementVenus Pipes & Tubes is a Gujarat-based company that manufactures pipes and tubes made from stainless steel. The company will open its initial public offering (IPO) today, May 11.
Venus Pipes is looking to raise ₹165 crore through the IPO with a price band of ₹310-325 per share. The issue comprises fresh issue of shares and does not comprise any offer for sale (OFS) of equity shares by the promoters.
The proceeds from the IPO will be used to finance capacity expansion and to meet the long-term working capital requirements of the company.
The IPO could gain good traction given the shares of Data Patterns are commanding a premium of ₹550 per share in the grey market.
Venus Pipes & Tubes sells products in both domestic and international markets with exports to 18 countries including Brazil, UK, Israel and countries in the European Union, among other countries.
Here are some of the important dates related to the IPO:
It has a manufacturing unit at Dhaneti in Kutch with a total installed capacity of 10,800 metric tonnes per annum.
|Price band||₹310 to ₹326|
|IPO open date||May 11|
|IPO close date||May 13|
|Allotment date||May 19|
|Initiation of refunds||May 20|
|Credit of shares to demat account||May 23|
|IPO listing date||May 24|
SEE ALSO: Delhivery delivers parcels to over 90% of India, but will its IPO deliver profits to its investors? Here’s what analysts are saying
Top 10 loss making startups in India in 2021 – from Oyo to PhonePe and Paytm, here’s the list
Here's why Adani and JSW Group are racing to acquire Ambuja Cements and ACC from Holcim
Popular on BI
- Explained: Why Assam gets flooded every year
- Understanding Gautam Adani’s rise: a story on how to generate wealth via hope, equity and of course debt
- Realme Narzo 50 Pro 5G vs Redmi Note 11 Pro Plus 5G – price, specs and features compared
- Sun Pharma buys Uractiv portfolio in Romania — which brings in $8.7 million every year
- Hero Electric scooter catches fire in Odisha, no casualties or injuries were reported