Venus Pipes & Tubes IPO: The price band for the Initial Public Offering (IPO) of Venus Pipes & Tubes Limited has been announced today. The company has fixed the IPO price band of Venus Pipes & Tubes: from 310 326 per equity share. public issue eligible 165.42 crore is scheduled to hit the primary market on 11 May 2022 and will be open for bidding till 13 May 2022. The company is selling 5,074,100 shares of the company to generate Rs. 165.42 crore through fresh issue. According to the red herring prospectus of Venus Pipes & Tubes IPO, the bidding for anchor investors will commence from May 10, 2022.
Venus Pipes & Tubes Limited have said that they will use these Rs 165.42 crore for funding the project cost for capacity expansion and backward integration for manufacturing of hollow pipes. In short, the company will use the funds to meet working capital requirements and for general corporate purposes.
Here we list down the important Venus Pipes & Tubes IPO details:
– Venus Pipes & Tubes IPO Subscription: The issue will open on 11 May 2022 and will be open for bidding till 13 May 2022.
– Venus Pipes & Tubes IPO Price Band: The company has fixed the price band for its Public Offering: from 310 326 per equity share.
– Venus Pipes & Tubes IPO GMP: Shares of Venus Pipes & Tubes IPO Limited are yet to debut in the gray market. Hence, the IPO GMP of Venus Pipes & Tubes is not available today.
– Venus Pipes & Tubes IPO Size: The company aims to raise 165.42 crore from its public offer.
– Venus Pipes & Tubes IPO Lot Size: A bidder will be able to apply for public issue in lots and one lot will consist of 46 shares of the company.
– Venus Pipes & Tubes IPO Limit: An applicant can apply for a minimum of 1 lot and a maximum of 13 lots.
– Venus Pipes & Tubes IPO Investment Limit: Since a bidder can apply from 1-13 lots, a bidder will need a minimum 14,996 to apply for IPO whereas a bidder cannot invest more than 1,94,998 in this IPO.
– Venus Pipes & Tubes IPO Allotment Date: The tentative date for allotment of shares is likely to be on May 19, 2022.
– Venus Pipes & Tubes IPO Listing: The list of shares is proposed on BSE and NSE and the tentative listing date is 24th May 2022.
– Venus Pipes & Tubes IPO Lead Managers: SMC Capitals is the sole Book Running Lead Manager to the issue.
– Venus Pipes & Tubes IPO Registrar: KFin Technologies Limited has been appointed as the Official Registrar of Public Issues.