Gujarat-based Venus Pipes and Tubes Limited (VPTL)
Gujarat-based Venus Pipes and Tubes gets SEBI nod for IPO
Gujarat-based Venus Pipes and Tubes Limited (VPTL), one of the leading Stainless Steel Pipes and Tubes Manufacturer has received approval from markets regulator Sebi to raise funds through an initial public offering (IPO).
According to market sources, the company’s raise would be between Rs 175 -225 crore.
Venus Pipes and Tubes Limited is one of the growing stainless steel pipes and tubes manufacturer and exporter in the country having 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 holds pride in supplying its wide product range to more than 20 countries internationally.
The offer size comprises of sale of 50.74 lakh equity shares of the company. Proceeds of the issue to the tune of Rs 105.99 crore will be used to finance capacity expansion and backward integration for manufacturing of hollow pipes, Rs 25 crore for working capital requirements besides general corporate purposes.
VPTL currently manufacturing five product lines, 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.
The company under the brand name 'Venus' supplies its products for applications in diverse sectors, including chemicals, engineering, fertilisers, pharmaceuticals, power, food processing, paper, and oil & gas.
The products are sold both domestically and internationally either directly to customers or through traders/stockists and authorized distributors. They are exported to 18 countries including Brazil, UK, Israel and countries in the European Union.
The company has a manufacturing unit, strategically located in Bhuj-Bhachau Highway which is close to both Kandla and Mundra port. The manufacturing facility has separate seamless and welded divisions with latest product-specific equipment and machineries including tube mills, pilger mills, draw benches, swaging machines, pipe straightening machines, TIG/MIG welding systems, plasma welding systems, etc., with a total installed capacity of 10,800 MT per annum. In addition, it has a warehouse facility located in Ahmedabad.
VPTL’s revenue from operations increased 73.97% to Rs 309.33 crore for fiscal 2021 against Rs 177.81 crore for fiscal 2020, primarily due to increased sales of our products resulting from a robust growth of domestic and export demand, while its net profit jumped to Rs 23.63 crore for fiscal 2021 from Rs 4.13 crore for fiscal 2020.
Comments
Post a Comment