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All that you should know about the Company before applying for the IPO.
The public issue of equity shares of Venus Pipes & Tubes Limited will open for subscription on May 11, 2022 and closes on May 13, 2022. It is expected to list on the stock exchanges on May 24, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Established in 2015, the Company is one of the growing stainless steel pipes and tubes manufacturer and exporter based out of Gujarat. The Company classifies its products in two broad categories: (i) seamless tubes/pipes; and (ii) welded tubes/pipes. The Company markets its products under its brand name “Venus”. The Company supplies its Products for applications in diverse sectors including (i) chemicals, (ii) engineering; (iii) fertilizers; (iv) pharmaceuticals, (v) power, (vi) food processing; (vii) paper; and (viii) oil and gas.
The Company sells its products both in the domestic as well as the international markets. It has exported to 20 countries including Brazil, UK, Israel and countries in the European Union, etc (as of 28-FEB-2022). The Company procures raw materials (SS coils and hollow pipes) through 3 main channels: (i) domestic suppliers such as steel manufacturers, stockists and traders; (ii) international suppliers from China, Indonesia, Malaysia and Singapore; and (iii) high sea purchases.
Its manufacturing plant is strategically located at Bhuj-Bhachau highway, Dhaneti (Kutch, Gujarat) in close proximity, around 55 kilometers and 75 from the ports of Kandla and Mundra, respectively. Its manufacturing facility has a total installed capacity of 10,800 MT per annum (as of 28-FEB-2022).
Megharam Sagramji Choudhary, Jayantiram Motiram Choudhary, Dhruv Mahendrakumar Patel, and Arun Axaykumar Kothari
Given below are the objectives of the Company –
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
|IPO Size||₹ 165.42 Crore *|
|Offer Mix||100% Fresh Issue|
|Price Band||₹ 310 - ₹ 326|
|Lot Size||46 Shares (& in multiples thereof)|
|Face Value||₹ 10|
|Application Amount||Min. ₹ 14,996 (1 lot) | Max. ₹ 1,94,948 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||Kfin Technologies Limited|
|Cut-off time for UPI Mandate Confirmation||17-May-2022 (up to 12:00 PM)|
₹ 82.71 Crore
(50% of Issue Size)
₹ 24.81 Crore
(15% of Issue Size)
₹ 57.90 Crore
(35% of Issue Size)
|IPO Opens||May 11, 2022|
|IPO Closes||May 13, 2022|
|Finalization of the basis of allotment||May 19, 2022|
|Unblocking of funds / Initiation of refunds||May 20, 2022|
|Credit of equity shares to Demat accounts||May 23, 2022|
|Listing of equity shares||May 24, 2022|
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