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Venus Pipes & Tubes Limited is planning to raise Rs 165.42 crore through initial public offering (IPO). The IPO will open for subscription on May 11 and end on May 13, 2022. The price band is fixed at Rs 310 to Rs 326 per equity share.
The IPO comprises of only fresh issue of shares and the face value each equity share is Rs 10. The issue size is 50.74 lakh equity shares.
Company Summary
Venus Pipes & Tubes Limited is a growing stainless-steel pipes and tubes manufacturer and exporter in India. The company has 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 has one manufacturing plant which is located at Bhuj-Bhachau highway, Dhaneti (Kutch, Gujarat) with an installed capacity of 10,800 MT per annum as of end of February 2022. The company has an additional warehouse facility located at Ahmedabad.
The company plans to tap new geographies and increase their export share as they have appointed sole distributors in Italy and Kuwait as well as a marketing representative for servicing the European market, in addition to selling their products through stockists/traders.
Company Strengths
- Venus Pipes is a well-established brand in stainless steel pipes/tubes having presence in both seamless pipes and welded pipes/tubes segments, which has received international accreditations and quality benchmarking certifications.
- High demand for their products helped by new projects, repair and maintenance as well as replacement needs resulting in strong order book on a year-on-year basis.
- The company’s clientele is diversified across various India states and Venus exports their products to 20 different countries.
- The company is managed by well-experienced promoters and senior management team.
Company Financials
Particulars | 9MFY22 | FY21 | FY20 | FY19 |
Total Assets | 2,462.76 | 1,375.39 | 1,071.91 | 791.23 |
Total Revenue | 2,782.80 | 3,120.31 | 1,793.22 | 1,205.06 |
Profit After Tax | 235.95 | 236.32 | 41.28 | 37.5 |
*All numbers are Rs in million
Purpose of the IPO
The company proposes to utilize the net proceeds from the IPO for the following purposes,
- Financing the project cost towards capacity expansion, technological upgradation, backward integration for manufacturing of hollow pipes, etc. aggregating to Rs 107.95 crore.
- To meet long-term working capital requirements totalling Rs 25 crore.
- General corporate purposes.
Company Promoters
Megharam Sagramji Choudhary, Jayantiram Motiram Choudhary, Dhruv Mahendrakumar Patel and Arun Axaykumar Kothari are the promoters of the company.
IPO Details
IPO Opening Date | 11-May-22 |
IPO Closing Date | 13-May-22 |
Face Value | Rs 10 per equity share |
Issue Price (Price band) | Rs 310 to Rs 326 per share |
Lot Size | 46 Shares |
Issue Size | 5,074,100 shares aggregating up to Rs 165.42 cr |
Fresh Issue | 5,074,100 shares aggregating up to Rs 165.42 cr |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount |
Minimum | 1 | 46 | Rs 14,996 |
Maximum | 13 | 598 | Rs 194,948 |
IPO Allotment and Listing Details
Event | Date |
Shares Allotment Date | 19-May-22 |
Initiation of Refunds | 20-May-22 |
Credit of Shares to Demat | 23-May-22 |
Venus Pipes & Tubes IPO Listing Date | 24-May-22 |
You can check your allotment in BSE or KFin Technologies