Venus Pipes & Tubes
Venus Pipes & Tubes’ Initial Public Offering to open on May 11, sets price band at ₹ 310 to ₹ 326 per Equity Share
· Price Band of ₹ 310 – ₹ 326 per equity share bearing face value of ₹ 10 each (“Equity Shares”).
· Bid/Issue Opening Date – Wednesday, 11 May, 2022 and Bid/Issue Closing Date – Friday, 13 May, 2022.
· Minimum Bid Lot is 46 Equity Shares and in multiples of 46 Equity Shares thereafter.
· The Floor Price is 31.00 times the face value of the Equity Share and the Cap Price is 32.60 times the face value of the Equity Share.
Risks to Investors:
• Details of Acquisition of all Equity Shares transacted in last three years and one year:
Period | Weighted Average Cost of Acquisition (in ₹) | Upper End of the Price Band (₹ 326) is ‘X’ times the Weighted Average Cost of Acquisition | Range of acquisition price: Lowest Price -Highest Price (in ₹) |
Last 1 year | 75.78 | 4.30 | Nil-280 |
Last 3 years | 75.78 | 4.30 | Nil-280 |
* As certified by Maheshwari & Co., Chartered Accountants, by their certificate dated April 26, 2022
• Return on networth nine months ended December 31, 2021 and fiscal years 2021, 2020 and 2019 is 19.58%, 59.18%, 25.36% and 30.80%.
• The BRLM has not handled any public issues during the current financial year (Fiscal 2023) and two financial years (Fiscal 2022 and Fiscal 2021) preceding the current financial year.
Mumbai, May 06, 2022: Gujarat-based Venus Pipes & Tubes Limited (“The Company”) has fixed the price band at ₹ 310 to ₹ 326 per Equity Share for its maiden public offer. The initial public offering (“IPO”) of the Company will open on Wednesday, 11 May, 2022 for subscription and close on Friday, 13 May, 2022. Investors can bid for a minimum of 46 Equity Shares and in multiples of 46 Equity Shares thereafter.
The IPO is through a fresh issue of equity shares of up to 5,074,100 Equity Shares.
(Mr. Arun AxayKumar Kothari, Managing Director & CFO, Venus Pipes & Tubes Limited.)
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 company supplies products for applications in diverse sectors including chemicals, engineering, fertilizers, pharmaceuticals, power, food processing, paper, and oil and gas.
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