GMP, price range, other key things to know

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IPO of Venus Pipes & Tubes: Venus Pipes & Tubes Limited will open its initial public offering (IPO) for public subscription on Wednesday, May 11, 2022. The company has set the price range at Rs 310-326 per share. The issuance will close on Friday, May 13, 2022. According to the RHP filed by the company, the issuance consists entirely of the issuance of 50,74,100 new shares with a par value of Rs 10 each. In accordance with Venus Pipes & Tubes’ IPO Red Herring Prospectus, tenders for lead investors will begin on May 10, 2022.

Venus Pipes & Tubes IPO: Price Range and Lot Size

Venus Pipes & Tubes has set its IPO price range at Rs 310-325 each. Investors can bid for a minimum of 46 shares, then in multiples thereafter.

IPO of Venus Pipes & Tubes: Objective

Proceeds from the public offering will be used to fund the cost of the project for capacity expansion and upstream integration for hollow pipe manufacturing, to meet working capital requirements and for general corporate purposes. ‘business.

IPO of Venus Pipes & Tubes: shares reserved

The company has reserved 50% of the shares for qualified institutional buyers (QIBs), while non-institutional buyers (NIIs) will get 15% of the shares. Retail bidders will get the remaining 35% equity.

Venus Pipes & Tubes IPO: Financials

It reported profit after tax (PAT) of Rs 23.63 crore with a topline of Rs 312.03 crore in the financial year 2021-22. For the nine months ended, the company reported net profit of Rs 23.6 crore with revenue of Rs 278.28 crore.

Venus Pipes & Tubes IPO GMP

Venus Pipes & Tubes shares are currently trading at a gray market premium of Rs 35, above the upper band of Rs 326, according to IPO Watch. This translates to a listing gain of 10%. . This means that gray market shares are trading at Rs 361 each. The premium fluctuates based on sentiment in the markets. However, stock market experts have suggested to investors that GMP is an unofficial data, which is not regulated. Thus, those who follow GMP are advised to also consult the financial statements of the company, as the balance sheet of the company will give a better picture of the fundamentals of the company.

Venus Pipes & Tubes IPO: About the Company

Venus Pipes & Tubes has approximately six years of experience in the manufacture of stainless steel tubular products in two major categories – seamless tubes and pipes; and welded tubes and pipes. The company under the “Venus” brand supplies its products for applications in various industries, including chemicals, engineering, fertilizers, pharmaceuticals, energy, food processing, paper, oil and gas .

SMC Capitals is the sole lead manager of the issuance, while Kfin Technologies is the issuance’s registrar. It is proposed that the company’s shares will be listed on the BSE and the NSE.

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