About Venus Pipes & Tubes IPO

The company has about six years of experience in manufacturing of stainless-steel tubular products in two broad categories — seamless tubes & pipes; and welded tubes & pipes. Under the brand name ‘Venus’, the company supplies its products for applications in diverse sectors including chemicals, engineering, fertilisers, pharmaceuticals, power, food processing, paper and oil and gas. The company is one of the growing stainless-steel pipes and tubes manufacturers and exporters in India

The IPO of Venus Pipes & Tubes will be open for public subscription between May 11 and May 13. The bidding for anchor investors will open on May 10. The public issue comprises the sale of 50.74 lakh equity shares of the company. Its total size will be Rs 165.35 crore. The tentative date for the announcement of share allocation is May 19. The likely date for share listing is May 24. Its shares are proposed to be listed on both NSE and BSE.

An investor can bid for a minimum of one lot and a maximum of 13 lots. A lot will comprise 46 shares of Venus Pipes & Tubes. In terms of the rupee value, an investor can bid for a minimum amount of Rs 14,996 for one lot, while the maximum bid can be made for Rs 1,94,948 for 13 lots.

Proceeds from the public issue will be used for financing the project cost towards capacity expansion and backward integration for manufacturing of hollow pipes, to meet working capital requirements and for general corporate purposes.