Venus Pipes & Tubes Limited IPO (Venus Pipes & Tubes IPO) Details
Venus Pipes & Tubes Limited is a manufacturer and exporter of stainless steel pipes and tubes. The company is manufacturing stainless steel tube products in two broad categories – seamless tubes/pipes and welded tubes/pipes under which five categories of products are manufactured namely, stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes and stainless steel box pipes.
Venus Pipes & Tubes Limited has one manufacturing plant which is located at Bhuj-Bhachau highway, Dhaneti (Kutch, Gujarat) with an installed capacity of 10,800 MT per annum.
The company sells products in both domestic and international markets. Venus Pipes & Tubes exports its products to 18 countries including Brazil, the UK, Israel and countries in the European Union, etc.
- International Accreditations and product approvals.
- Specialised production of Stainless Steel Pipes and Tubes.
- Multi-fold demand for our Products.
- Customer Diversification.
- Experienced and Qualified Team.
|Particulars||For the year/period ended (Rs in Million)|
|Profit After Tax||235.95||236.32||41.28||37.50|
Objects of the Issue:
The company proposes to utilize the Net Proceeds raised through the Issue for the following objects:
- To meet long-term working capital requirements.
- General corporate purposes.
- Financing project costs for capacity growth, technology upgrades, operational cost optimization, manufacturing facility support, and backward integration for hollow pipe manufacturing.
Venus Pipes & Tubes IPO Details
|Venus Pipes & Tubes IPO Date||May 11, 2022 to May 13, 2022|
|Venus Pipes & Tubes IPO Face Value||₹10 per share|
|Venus Pipes & Tubes IPO Price||₹310 to ₹326 per share|
|Venus Pipes & Tubes IPO Lot Size||46 Shares|
|Issue Size||5,074,100 shares of ₹10|
(aggregating up to ₹165.42 Cr)
|Fresh Issue||5,074,100 shares of ₹10|
(aggregating up to ₹165.42 Cr)
|Issue Type||Book Built Issue IPO|
|Listing At||BSE, NSE|
|QIB Shares Offered||Not more than 50% of the Net Offer|
|Retail Shares Offered||Not less than 35% of the Net Offer|
|NII (HNI) Shares Offered||Not less than 15% of the Net Offer|
|Company Promoters||Megharam Sagramji Choudhary, Jayantiram Motiram Choudhary, Dhruv Mahendrakumar Patel and Arun Axaykumar Kothari are the company promoters.|
Venus Pipes & Tubes IPO Timeline (Tentative Timetable)
Venus Pipes & Tubes IPO opens on May 11, 2022, and closes on May 13, 2022. The Venus Pipes & Tubes IPO bid date is from May 11, 2022 10.00 A.M. to May 13, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
|Venus Pipes & Tubes IPO Opening Date||May 11, 2022|
|Venus Pipes & Tubes IPO Closing Date||May 13, 2022|
|Basis of Allotment||May 19, 2022|
|Initiation of Refunds||May 20, 2022|
|Credit of Shares to Demat||May 23, 2022|
|Venus Pipes & Tubes IPO Listing Date||May 24, 2022|
Venus Pipes & Tubes IPO Lot Size
The Venus Pipes & Tubes IPO lot size is 46 shares. A retail-individual investor can apply for up to 13 lots (598 shares or ₹194,948).
Venus Pipes & Tubes IPO Promoter Holding
|Pre Issue Share Holding||64.27%|
|Post Issue Share Holding||48.20%|
Venus Pipes & Tubes IPO Review
Rising trends in commodity markets helped this company to post super performance and considering bright prospects, it is on an expansion spree. Based on its latest performance, the issue appears fully priced. Its capacity will be more than doubled post-expansion. As the issue is below Rs. 250 cr. its initial listing will be in “T” group with restricted circuits and that will remove speculative activities for the initial listing period. Investors may consider an investment with medium to long term perspectives.