Venus Pipes & Tubes IPO (Initial Public Offering) is going to hit primary market on 11th May 2022 and it will remain open for bidding till 13th May 2022. Through this public issue, Venus Pipes & Tubes is offering sale of 50.74 lakh equity shares of the company. As per Red herring Prospectus of Venus Pipes & Tubes IPO, bidding for anchor investors will begin on 10th May 2022.
Venus Pipes & Tubes Limited has made it clear that money raised through the public offer will be used for financing the project cost towards capacity expansion and backward integration for manufacturing of hollow pipes. In short, company will use the money to meet working capital requirements and for general corporate purposes. The company is yet to announce Venus Pipes & Tubes IPO price band.
Venus Pipes & Tubes IPO details
– Venus Pipes & Tubes IPO will open for subscription on 11th may 2022 and it will remain open for bidding till 13th may 2022.
– Most likely Venus Pipes & Tubes IPO allotment date is 19th May 2022. initiation of refund will begin on 20th May 2022 whereas credit of shares to the demat account of allottees is expected on 23rd May 2022.
– Venus Pipes & Tubes IPO listing is proposed on BSE and NSE.
– Tentative Venus Pipes & Tubes IPO listing date is 24th May 2022.
– SMC Capitals is the sole book running lead manager to the issue.
Venus Pipes & Tubes Limited has near six years of experience in manufacturing of stainless-steel tubular products in two broad categories — seamless tubes & pipes; and welded tubes & pipes. The company under the brand name “Venus” supplies its products for applications in diverse sectors including chemicals, engineering, fertilizers, pharmaceuticals, power, food processing, paper and oil and gas.
Venus Pipes & Tubes IPO GMP is not available as shares of Venus Pipes & Tubes Limited are yet to make debut in grey market.