iStockNew Delhi: Venue Pipes and Tubes made a strong debut on bourses as the steel pipe maker got listed at Rs 335, a premium of 3 per cent, over its issue price of Rs 326 on BSE.
On National Stock Exchange (NSE), the company made its debut at a premium of 4 per cent at Rs 337.5, compared to the mentioned issue price.
The Rs 165.42 crore initial public offering (IPO) of Venue Pipes & Tubes was open for subscription between May 11-13 as the company sold its share in the price range of Rs 310-326 apiece.
Just a day before the IPO, the company was commanding a premium of Rs 35-40 in the grey market, signaling a strong listing for the metal piper manufacturer.
The issue got a strong response as it was overall subscribed 16.31 times. The portion reserved for qualified institutional buyers was subscribed 12 times, whereas HNI quota was subscribed 15.66 times. Retail portion was booked 19.04 times.
Venus Pipes and Tubes is a manufacturer and exporter of stainless steel pipes and tubes in two broad categories - seamless tubes/pipes and welded tubes/pipes.
Venus Pipes and Tubes has one manufacturing plant which is located at Bhuj-Bhachau highway, Gujarat) with an installed capacity of 10,800 MT per annum.
The company sells products in both domestic and international markets. Venus Pipes & Tubes exports its products to 18 countries including Brazil, the UK, Israel and countries in the European Union.
On National Stock Exchange (NSE), the company made its debut at a premium of 4 per cent at Rs 337.5, compared to the mentioned issue price.
The Rs 165.42 crore initial public offering (IPO) of Venue Pipes & Tubes was open for subscription between May 11-13 as the company sold its share in the price range of Rs 310-326 apiece.
Just a day before the IPO, the company was commanding a premium of Rs 35-40 in the grey market, signaling a strong listing for the metal piper manufacturer.
The issue got a strong response as it was overall subscribed 16.31 times. The portion reserved for qualified institutional buyers was subscribed 12 times, whereas HNI quota was subscribed 15.66 times. Retail portion was booked 19.04 times.
Venus Pipes and Tubes is a manufacturer and exporter of stainless steel pipes and tubes in two broad categories - seamless tubes/pipes and welded tubes/pipes.
Venus Pipes and Tubes has one manufacturing plant which is located at Bhuj-Bhachau highway, Gujarat) with an installed capacity of 10,800 MT per annum.
The company sells products in both domestic and international markets. Venus Pipes & Tubes exports its products to 18 countries including Brazil, the UK, Israel and countries in the European Union.
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