Venus Pipes and Tubes Limited IPO Detail
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.
Competitive Strengths:
- 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.
Company Promoters
Megharam Sagramji Choudhary, Jayantiram Motiram Choudhary, Dhruv Mahendrakumar Patel and Arun Axaykumar KothariIPO Details
| IPO Opening Date | May 11, 2022 |
| IPO Closing Date | May 13, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹310 - 326 per equity share |
| Market Lot | 46 Shares |
| Min Order Quantity | 46 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹165.42 Cr |
| Fresh Issue | 5,074,100 shares of ₹10 (aggregating up to ₹165.42 Cr) |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.36x | - | - | 0.98x | 4.10x | 2.36x |
| Day 2 | 0.36x | - | - | 2.59x | 7.53x | 4.42x |
| Day 3 | 12.02x | - | - | 15.66x | 19.03x | 16.31x |
IPO Tentative Timetable
The Venus Pipes and Tubes Limited IPO open date is May 11, 2022, and the close date is May 13, 2022. The issue may list on May 24, 2022.
| IPO Open Date | May 11, 2022 |
| IPO Close Date | May 13, 2022 |
| Basis of Allotment Date | May 19, 2022 |
| Initiation of Refunds | May 20, 2022 |
| Credit of Shares to Demat Account | May 23, 2022 |
| IPO Listing Date | May 24, 2022 |
IPO Lot Size
The Venus Pipes and Tubes Limited IPO market lot size is 46 shares. A retail-individual investor can apply for up to 13 lots (598 shares or ₹194948).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 46 | ₹14996 |
| Maximum | 13 | 598 | ₹194948 |
IPO Promoter Holding
| Pre Issue Share Holding | 64.27% |
| Post Issue Share Holding | 48.20% |
Company Financials:
For the year/period ended (₹ in Million)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 1,375.39 | 3,120.31 | 236.32 |
| 31-Mar-20 | 1,071.91 | 1,793.22 | 41.28 |
| 31-Mar-19 | 791.23 | 1,205.06 | 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 and Tubes Limited IPO Registrar:
KFin Technologies Limited
Venus Pipes and Tubes Limited IPO Lead Manager(s):
SMC Capitals Limited
Company Contact Information:
Venus Pipes and Tubes Limited
Survey No. 233/2 and
234/1, Dhaneti
Bhuj, Kachchh - 370020 Gujarat
