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Venus Pipes and Tubes Limited IPO Detail

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:

  1. International Accreditations and product approvals.
  2. Specialised production of Stainless Steel Pipes and Tubes.
  3. Multi-fold demand for our Products.
  4. Customer Diversification.
  5. Experienced and Qualified Team.

Company Promoters

Megharam Sagramji Choudhary, Jayantiram Motiram Choudhary, Dhruv Mahendrakumar Patel and Arun Axaykumar Kothari

IPO Details

IPO Opening DateMay 11, 2022
IPO Closing DateMay 13, 2022
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹310 - 326 per equity share
Market Lot46 Shares
Min Order Quantity46 Shares
Listing AtBSE, NSE
Issue Size₹165.42 Cr
Fresh Issue5,074,100 shares of ₹10 (aggregating up to ₹165.42 Cr)
Offer for Sale-
Retail Portion 35%

IPO Subscription (Bidding Detail)

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 DateMay 11, 2022
IPO Close DateMay 13, 2022
Basis of Allotment DateMay 19, 2022
Initiation of RefundsMay 20, 2022
Credit of Shares to Demat AccountMay 23, 2022
IPO Listing DateMay 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).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding64.27%
Post Issue Share Holding48.20%

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:

  1. To meet long-term working capital requirements.
  2. General corporate purposes.
  3. 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