IPO Allotment Date, Links, Listing Date, GMP Today; 10 Points for Venus Pipes & Tubes

The allotment of shares for Venus Pipes & Tubes Limited's initial public offering (IPO) is anticipated to take place on May 19. When the subscription period for Venus Pipes IPO opened, investors responded reasonably well. The Venus Pipes IPO was subscribed 16.31 times on the last day, all owing to retail investors. According to information made available by NSE, the offering got bids for 5,79,48,730 shares vs 35,51,914 shares on offer.

All you need to know about Venus Pipes & Tubes IPO GMP, Share Allotment, and Listing

1)Venus Pipes & Tubes, Inc. From May 11–13, IPO subscriptions were accepted. The range of prices has been set at Rs 310-326 per item. Investors could place a minimum bid of 46 equity shares and then bid in multiples of 46 after that.

2) The company sought to raise Rs 165.41 crore through an IPO at the top of the pricing range. The Venus Pipes IPO involves the selling of 50.74 lakh new company equity shares. No offer for sale (OFS) element is present.

3) Investors responded favorablyChanakya to Venus Pipes' initial public offering. Retail investors' allotted quota received 19.04 times as much interest. While the quota allotted to non-institutional bidders' portion was subscribed 15.66 times, the amount reserved for qualified institutional purchasers was booked 12.02 times.

4) Investors will soon learn if they have received a Venus Pipes & Tubes share. On Thursday, May 19, 2022, Venus Pipes' final share allocation is anticipated to occur. Customers can access the BSE website or KFin Technologies Limited (https://www.kfintech.com) to verify the status of their applications.

5) According to the Chanakya Ni Pothi website, Venus Pipes & Tubes' grey market premium increased to Rs 24 on Monday. Grey market prices for Venus Pipes' unlisted shares were selling at Rs 350, a 7% premium over the issue price.

6) Regarding Venus Pipes' initial public offering (IPO), Hem Securities stated that the company is bringing the issue at a price range of Rs 310-326 per share at a p/e multiple of 21x on a 9-month basis for FY22 EPS.

7) Following the initial share sale, Venus Pipes & Tubes received more than Rs 49 crore from anchor investors. Kotak Mahindra Life Insurance Company Ltd., India SME Investments - Fund, and Nippon India Small Cap Fund I took part in the anchor book as one of the investors.

8) The Gujarat-based business is an expanding producer and exporter of stainless steel pipes and tubes in India. It provides its goods for use in a variety of industries, including oil and gas, paper, food processing, pharmaceuticals, engineering, fertilizers, and oil and gas.

9) Venus Pipes' operating revenue for the fiscal year that ended March 31, 2021, was Rs 309.33 crore. The same fiscal year's net profit totaled Rs 23.63 crore. The operating revenue for the first nine months of 2021 concluded at Rs 276.76 crore, with a net profit of Rs 23.59 crore.

10) On May 24, Venus Pipes & Tubes' IPO share is likely to list on the NSE and BSE stock exchanges.

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