Price Band of ₹ 310 – ₹ 326 per equity share bearing face value of ₹ 10 each (“Equity Shares”).
Bid/Issue Opening Date – Wednesday, 11 May, 2022 and Bid/Issue Closing Date – Friday, 13 May, 2022.
Minimum Bid Lot is 46 Equity Shares and in multiples of 46 Equity Shares thereafter.
The Floor Price is 31.00 times the face value of the Equity Share and the Cap Price is 32.60 times the face value of the Equity Share.
Bengaluru, May 06, 2022: Gujarat-based Venus Pipes & Tubes Limited (“The Company”) has fixed the price band at ₹ 310 to ₹ 326 per Equity Share for its maiden public offer. The initial public offering (“IPO”) of the Company will open on Wednesday, 11 May, 2022 for subscription and close on Friday, 13 May, 2022. 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 and 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 stainless steel tubular products in two broad categories namely seamless tubes/pipes; and welded tubes/pipes. The company holds pride in supplying its wide product range to more than 20 countries internationally.
The company supplies products 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 (Kutch,Gujarat) in close proximity, around 55 kilometers and 75 kilometers from the ports of Kandla and Mundra, respectively, that helps us in reducing the logistic costs on procurement of raw materials and imports and export of the Products. The manufacturing plant has separate seamless and welded divisionswith latest product-specific equipment and machineries including tube mills, pilger mills, draw benches, swaging machines, pipe straightening machines, TIG/MIG welding systems, plasma welding systems, etc.
For the financial year ended on March 31, 2021, the revenue from operations was Rs 3093.31 million with a net profit of Rs 236.32 million. For nine months ended December 31, 2021, the revenue from operations was Rs. 2767.69 million with a net profit of Rs. 235.95 million.
