Venus Pipes & Tubes ₹165-crore initial public offering (IPO) will be open for public subscription from tomorrow and conclude on Friday May 13. The bidding for anchor investors has opened today. Venus Pipes & Tubes ₹165-crore initial public offering (IPO) will be open for public subscription from tomorrow and conclude on Friday May 13. The bidding for anchor investors has opened today. Первичное публичное размещение акций (IPO) Venus Pipes & Tubes на сумму 165 крор будет открыто для открытой подписки с завтрашнего дня и завершится в пятницу, 13 мая. Venus Pipes & Tubes Initial Public Offering (IPO) of 165 crores will be open for public subscription from tomorrow and will close on Friday, May 13th. Trading for anchor investors began today. Venus Pipes & Tubes 16.5 亿卢比的首次公开募股(IPO) 将从明天开始公开供公众认购，并于5 月13 日星期五结束。 Venus Pipes & Tubes 16.5 亿卢比的首次公开募股(IPO) Первичное публичное размещение акций (IPO) Venus Pipes & Tubes на сумму 165 крор будет открыто для открытой подписки с завтрашнего дня и завершится в пятницу, 13 мая. Venus Pipes & Tubes Initial Public Offering (IPO) of 165 crores will be open for public subscription starting tomorrow and will close on Friday, May 13th. Today began trading on anchor investors. The company has set a three-day offering price range of Rs 310-326 per share.
The public offering included the sale of 5.074 million new shares of the company and did not include an offer to sell (OFS) component. At the top end of the price range, the company is expected to raise Rs 1.65 crore in the IPO.
Venus Pipes shares were not active in the gray market today. The company’s shares are expected to be listed on the BSE and NSE stock exchanges on Tuesday, May 24, 2022.
Proceeds from the public offering will be used to fund the costs of the hollow pipe expansion and reverse integration project for working capital and general corporate purposes.
The Gujarat company is an Indian manufacturer and exporter of stainless steel pipes and pipes, is engaged in the production of stainless steel pipes, which are divided into two categories: seamless pipes and pipes and welded pipes.
“Venus has a debt of Rs 380 crore on its balance sheet, which is about 0.8 times the debt/equity. In addition, Venus’ FY21 ROCE appears to be very strong on the back of strong asset utilization and improved profitability. Consolidation back helped improve margins, but an increase in the asset base led to a decrease in asset turnover,” Wealthstreet said in a note.
Operating income was Rs 309 crore and net income was Rs 236 crore for the fiscal year ended March 31, 2021. For the nine months ended December 31, 2021, Venus Pipes recorded an operating income of Rs 2.76 crore and a net income of Rs 230 crore.
“Venus added capacity in fiscal 2019-21, resulting in a CAGR of 60% over that period. Return ratios have improved strongly with strong asset utilization & improved profitability. Return ratios have improved strongly with strong asset utilization & improved profitability. Yield ratios have improved significantly due to the efficient use of assets and increased profitability. As asset utilization and profitability improve, the rate of return rises substantially. Venus Pipes plans to double its production capacity to meet growing demand, diversify its product portfolio, improve operational efficiency through backward integration, and aims to raise needed capital through an IPO,” Antique Stock Broking said in a statement.
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