The IPO of Gujarat-based Venus Pipes & Tubes has been fixed at ₹ 310 to ₹ 326 per equity share
MUMBAI, May 06 (The CONNECT) – The initial public offering (IPO) of Gujarat-based Venus Pipes & Tubes Limited will be open between May 11 and 13 at a price band at ₹ 310 to ₹ 326 per Equity Share. Investors can bid for a minimum of 46 Equity Shares and in multiples of 46 Equity Shares thereafter.
The IPO is through a fresh issue of equity shares of up to 5,074,100 Equity Shares.
Venus Pipes & Tubes Limited is one of the growing stainless-steel pipes and tubes manufacturer and exporter in the country having over six years of experience in manufacturing of tubular products in two broad categories – seamless and welded – supplying to more than 20 countries, apart from meeting domestic import-substitute requirements.
Venus products go for applications in diverse sectors including chemicals, engineering, fertilizers, pharmaceuticals, power, food processing, paper, and oil and gas.
The Company has one manufacturing plant which is strategically located at Bhuj-Bhachau highway, Dhaneti in Kutch,Gujarat in close proximity to Kandla and Mundra ports which helps save logistic costs on procurement of raw materials and imports and export of the products.
For the financial year ended on March 31, 2021, the revenue from operations was Rs 309.3 crores a net profit of Rs 23.6 crores. For nine months ended December 31, 2021, the revenue from operations was Rs. 276.7 crores with a net profit of Rs. 23.5 crores.
The Company may, in consultation with the book running lead manager to the Issue, consider participation by Anchor Investors one working day prior to the issue opening.
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