The initial public offering (IPO) of Venus Pipes & Tubes, which was opened from May 11 to 13, received a strong subscription from all categories of investors. The IPO got subscribed 16.31 times as it received bids for over 5.79 crore shares against the offer size of 35.51 lakh shares, as per data available on the National Stock Exchange (NSE).
In the IPO, the portion reserved for retail individual investors was subscribed 19.04 times, while QIB quota was subscribed 12.02 times. Non-Institutional Investors’ quota received 15.69 times subscription.
The Rs 165.42-crore worth Venus Pipes & Tubes IPO comprised a fresh issue of 50.7 lakh shares. The company sold the shares in the IPO at a price band of Rs 310 to 326 per share.
Venus Pipes & Tubes will finalise the share allotment on May 19, 2022. Check out the important dates and details about the IPO below:
Venus Pipes & Tubes IPO – Important Dates & Details
|Issue Opening Date||May 11, 2022|
|Issue Closing Date||May 13, 2022|
|IPO Size||Rs 165.42 crore|
|Price Band||Rs 310 to 326 per share|
|Bid Lot||46 shares and in multiples thereof|
|Face Value||Rs 10 per share|
|IPO Allotment Date||May 19, 2022|
|Initiation of Refunds||May 20, 2022|
|Credit of Shares to Demat||May 23, 2022|
|IPO Listing Date||May 24, 2022|
Documents/details you will require to check Venus Pipes & Tubes IPO allotment status:
DP client ID
How to check Venus Pipes & Tubes IPO allotment status?
Investors who had bid for the Venus Pipes & Tubes IPO can check the IPO allotment status of their application online, through these 2 modes:
The websites of BSE/NSE OR
The registrar – KFin Technologies Ltd
How to check Venus Pipes & Tubes IPO allotment status through BSE/NSE website:
Step 1: Visit https://www.bseindia.com/investors/appli_check.aspx
Step 2: Select ‘Equity’ in ‘Issue Type’
Step 3: Select ‘Venus Pipes & Tubes Ltd.’ in the Issue Name
Step 4: Enter the Application Number or PAN
Step 5: Verify and click on ‘I’m not a robot’
Step 6: Click on ‘Search’
How to check Venus Pipes & Tubes IPO allotment status through the registrar’s website:
Step 1: Visit https://kosmic.kfintech.com/ipostatus/
Step 2: Select IPO: ‘Venus Pipes & Tubes Ltd.’
Step 2: Chose the Query by ‘Application No’ Or ’Demat Account’ Or ‘PAN’
Step 4: Enter the PAN, Application number or DPID/Client ID as per the selected option
Step 5: Enter the Captcha and click on the ‘Submit button.
Here’s how a typical IPO allotment search result page will look like:
VENUS PIPES & TUBES LTD
Application Number: Category: Allotted
Name: MR AMIT SINGH
Client ID: PAN:
About – Venus Pipes & Tubes
Venus Pipes & Tubes is a major manufacturer and exporter of stainless steel pipes and tubes with a total production capacity of 10,800 MT per annum. The company manufactures stainless steel pipes and tubes in two broad categories – seamless and welded.
The company has one manufacturing plant located in Dhaneti (Kutch), Gujarat. It exports its products to 18 countries, including the UK, Brazil, Israel, and European Union countries, etc.
The company plans to utilise the IPO proceeds to finance capacity expansion, backward integration for the manufacturing of hollow pipes and meet long-term working capital requirements.
Financials – Venus Pipes & Tubes
Venus Pipes & Tubes reported sharp growth in its revenue and net profit for the fiscal year 2021 as compared to the previous year. The company posted a net profit of Rs 23.63 crore and a revenue of Rs 312.03 crore in FY21. Its net profit in FY20 was Rs 4.13 crore and revenue was Rs 179.32 crore .
Management – Venus Pipes & Tubes
Jayantiram Choudhary is the Chairman, Non-Executive Director and one of the Promoters of Venus Pipes & Tubes.
Arun Kothari is the Promoter, Managing Director and CFO, while Megharam Choudhary is the Promoter and whole time Director of the company.
Dhruv Patel, Kailash Nath Bhandari, Pranay Ashok Surana, Komal Lokesh Khadaria and Shyam Agrawal are the non-executive, Independent Directors of the company.
Kumar Sinha is the president (marketing), Kunal Bubna is the president (finance and accounts), Bharat Kumar Prajapati is the production head and Om Prakash Mishra is the vice-president (operations) of the company.