Venus Pipes & Tubes IPO: Venus Pipes & Tubes Limited’s initial public offering (IPO) price range was announced today. The company has set the price range for Venus Pipes & Tubes IPO at €310 to €326 per share. Worth the public issue €165.42 crore will enter the primary market on May 11, 2022 and will remain open for bids until May 13, 2022. The company gives up 5,074,100 shares of the company to generate it €165.42 crore by new issue. According to the Red Hering prospectus of Venus Pipes & Tubes IPO, the tender for anchor investors will start on May 10, 2022.
Venus Pipes & Tubes Limited have said they will use these €165.42 million to finance the project cost toward capacity expansion and backward integration for hollow tube manufacturing. In short, the company will use the money to meet working capital needs and for general corporate purposes.
Here we list key IPO details of Venus Pipes & Tubes:
– Venus Pipes & Tubes IPO Subscription: The issue will open on May 11, 2022 and will remain open for bids until May 13, 2022.
– Venus Pipes & Tubes IPO price range: The company has set the price range of its public offering at €310 to €326 per share.
– Venus Pipes & Tubes GMP IPO: Venus Pipes & Tubes IPO Limited shares have yet to debut in the gray market. Therefore, Venus Pipes & Tubes IPO GMP is not available today.
– Venus Pipes & Tubes IPO size: The company is aiming for an increase €165.42 crore from its public offering.
– Venus Pipes & Tubes IPO volume: A bidder may apply for the public offering in lots, and one lot will be 46 shares of the company.
– Venus Pipes & Tubes IPO limit: A candidate 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 to 13 lots, a bidder needs a minimum €14,996 to apply for the IPO, with one bidder unable to invest more than €1,94,998 in this IPO.
– Venus Pipes & Tubes IPO Grant Date: The expected share grant date is May 19, 2022.
– IPO of Venus Pipes & Tubes: The listing of the shares is proposed on the BSE and NSE and the most likely listing date is 24 May 2022.
– Venus Pipes & Tubes IPO Lead Manager: SMC Capitals is the sole book-running lead manager on the issue.
– Venus Pipes & Tubes IPO Registrar: KFin Technologies Limited has been appointed Official Registrar of the Public Offering.
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