Venus Pipes IPO: Gujarat-based Venus Pipes & Tubes Ltd. Venus Pipes IPO: Gujarat-based Venus Pipes & Tubes Ltd. The manufacturer of seamless tubes/pipes and welded tubes/pipes aims to mop up Rs 165.42 crore through this offer at the upper end of the price band of Rs 310-326 per share. IPO Venus Pipes: расположенная в Гуджарате компания Venus Pipes & Tubes Ltd., производитель бесшовных труб/труб и сварных труб/труб, планирует получить 165,42 крор рупий за счет этого предложения в верхней части ценового диапазона 310-326 рупий за акцию. Venus Pipes IPO: Gujarat-based Venus Pipes & Tubes Ltd., a manufacturer of seamless pipes/pipes and welded pipes/pipes, plans to raise Rs 165.42 crores from this offering in the upper end of the Rs 310-326 per share price range. . Venus Pipes IPO：总部位于古吉拉特邦的Venus Pipes & Tubes Ltd. Venus Pipes IPO：总部位于古吉拉特邦的Venus Pipes & Tubes Ltd.无缝管/管和焊接管/管的制造商旨在通过此报价在每股310-326 IPO Venus Pipes: Venus Pipes & Tubes Ltd., базирующаяся в Гуджарате, производитель бесшовных труб/труб и сварных труб/труб, стремится получить 165,42 крор рупий в верхней части ценового диапазона 310-326 рупий за акцию с это предложение. Venus Pipes IPO: Gujarat-based Venus Pipes & Tubes Ltd., a manufacturer of seamless pipes/pipes and welded pipes/pipes, is aiming for Rs 165.42 crore at the top of the Rs 310-326 per share price range with this offer. The Rs 1,654.1 crore IPO of Venus Pipes will be open for subscription by Friday, May 13, 2022. The Venus Pipes IPO was brand new and included the sale of 5,074,000 (50,74,100) shares without a sale portion (OFS). As detailed in the red herring prospectus (RHP), all proceeds from the offering will be used to finance the costs of the hollow pipe expansion and back integration project, working capital requirements and general corporate purposes.
By the morning of May 12, the day after trading, the Venus Pipes and Tubes IPO had been signed 2.83 times, with over 10 million shares offered by investors for a total of 3.551 million IPOs. Retail investors have offered 4.95 times and non-institutional investors have signed up 1.16 times. Qualified institutional buyers subscribed to 36% of his quota of 1,014,000 shares. Venus Pipes reserves half of the total supply for qualified institutional buyers, 15% for non-institutional investors and the remaining 35% for retail investors.
Investors looking to sign up for the Venus Pipes IPO can bet on 46 shares and then bet on multiples. In the higher price range, they will spend Rs 14,996 to get a shipment of Venus Pipes and Tubes. The shares will be listed on the BSE and the National Stock Exchange (NSE).
Applicants should also note that the UPI authorization confirmation deadline is Tuesday, May 17, 2022 by 12:00 pm. If they fail to do so, their application may not be considered.
Ahead of the IPO, Venus Pipes and Tubes on Tuesday raised more than Rs 490 crore (Rs 49,62,32,636) from top three investors, instead of Rs 15,326 per share, according to the stock exchange, 22,186 shares.
According to IPO Watch, its GMP fluctuates between Rs 20 and Rs 35 per share. Starting from a GMP of Rs 35 per share on May 6th, GMP dropped to Rs 20 per share on May 9th. On May 10, GMP climbed north again to a previous high of Rs 35, but fell again to Rs 25 on May 11. Experts expect more volatility from this.
This is a sign that the stock is in good shape and investors could make some profit from the listing when the stock goes public on May 24th.
Brokers are ambivalent about the company, with some advising to buy shares and some to avoid.
Anand Rathi Share and Stock Brokers research team issued a “hold” recommendation on the offer in its IPO note.
Anand Rathi Research stated in its report: “A company listed at the top end of the IPO price range with FY 22 annual earnings of 21 times post-issue equity and a required market capitalization of Rs 661.7 crore. At the top end of the IPO price range, according to NAV of Rs 30.5 as of March 31, 2021, the offer price is 10.7 times earnings. The company has achieved good sales growth over the past few years with a growing margin profile. However , Venus is facing problems due to the SS pipeline. Competition from analogues with a significant market share in the pipe market. Venus appears to be highly priced compared to its listed peers. We recommend a “avoid” rating on this IPO.”