Venus Pipes & Tubes IPO set to open on 11th May
- ByStartupStory | May 6, 2022
Venus Pipes & Tubes is all set to launch its IPO on 11th May 2022 with a fixed price band of Rs 310-325 apiece. As per the RHP filed by the company, the issue will contain fresh equity shares of Rs 50.74 lakh with a face value of Rs 10 per share adding up to become Rs 165.4 crore. Investors are allowed to bid for a minimum of 46 equity shares and thereafter in multiples. This offering will thus get over on Friday 13th May.
The firm has almost six years of expertise in the field of manufacturing of stainless stell tubular products in broadly two categories including seamless tubes & pipes as well as welded tubes & pipes. The company with a brand name of ‘Venus’ dispenses its products for usage in diverse fields like chemicals, engineering, fertilisers, pharmaceuticals, power as well as paper, oil and gas.
The funds received from this issue will be utilised for project cost towards capacity extension and backward integration to manufacture hollow pipes and be at par with the working capital requirements for general corporate purposes. The firm has got 50%
The company is one of theleading stainless steel pipes and tubes manufacturers as well as exporters of India and holds pride of supplying its wide product range to almost 20 countries globally. SMC Capitals is the solitary book running lead manager to the issue and the equity shares of the company are proposed to be listed on BSE as well as NSE.
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