Venus Pipes & Tubes IPO price band will be Rs.310-326 per share

On May 11, Venus Pipes & Tubes will begin its initial public offering (IPO), which will end on May 13. The IPO is expected to raise around Rs.165 crore, with a price range of Rs.310-326 per equity share. On the grey market, the shares are now trading at a premium of Rs.35 a share. Here are some key details regarding the firm and its IPO that investors should be aware of before applying.

Date and Size of IPO

Between May 11 and May 13, the public offering of Venus Pipes & Tubes will be offered for public subscription. On May 10, the auction for anchor investors will begin. The business is selling 50.74 lakh equity shares in the public offering. It would cost Rs.165.35 crore in total. The planned date for the share allocation announcement is May 19. The stock is expected to go public on May 24. It is planned that its shares be listed on both the NSE and the BSE.

Lot Size of IPO

An investor can bid on as little as one lot or as much as 13 lots. A lot will consist of 46 Venus Pipes & Tubes shares. An investor can bid a minimum of Rs.14,996 for one lot and a maximum of Rs.1,94,948 for 13 lots in terms of rupee value.

Quotas for Venus Pipes & Tubes’ Initial Public Offering

Retail investors will be eligible to participate in 35% of the initial public offering, while qualified institutional buyers (QIBs) would be permitted to participate in 50% of the overall issue size. Non-institutional investors will be allowed to take part in the remaining 15% of the IPO.

Venus Pipes & Tubes IPO GMP

According to IPO Watch, Venus Pipes & Tubes’ shares are now trading on the grey market at a premium of Rs.35 over the upper band of Rs.326. It amounts to a 10% increase in listing value. The grey market shares are currently selling at Rs.361 each. The premium varies according on market mood.

About Venus Pipes & Tubes

With around six years of expertise in manufacturing stainless-steel tubular goods in two major categories — seamless tubes and pipes; and welded tubes and pipes — the Gujarat-based firm is one of India’s fastest-growing stainless-steel pipes and tubes manufacturers and exporters. The firm sells its products under the “Venus” brand name for use in a variety of industries, including chemicals, engineering, fertilisers, pharmaceuticals, power, food processing, paper, and oil and gas.

The income from operations for the financial year ending March 31, 2021 was Rs.309.33 crore, with a net profit of Rs.23.63 crore.

The revenue from operations for the nine months ending December 31, 2021 was Rs 276.76 crore, with a net profit of Rs.23.59 crore. The only book is SMC Capitals  running lead managers to the issue. The equity shares of the company are proposed to be listed on BSE and NSE.