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Venus Pipes & Tubes Share Debuts at 3.5% Premium; Check Venus Pipes Share Price on BSE, NSE

Venus Pipes & Tubes Ltd shares marked a tepid listing on the stock exchanges today

Venus Pipes & Tubes Ltd shares marked a tepid listing on the stock exchanges today

  • Last Updated:May 24, 2022, 10:24 IST
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Venus Pipes & Tubes Ltd shares marked a tepid listing on the stock exchanges today. Shares began trading at Rs 337 per share on NSE, up 3.53 per cent from the upper end of the IPO price band of Rs 310-326 per share. On BSE, the shares were trading at Rs 335 apiece. 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.

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.

Through the funds raised via the IPO, Venus Pipes & Tubes will look towards capacity expansion, technological upgradation, cost optimization of operations and support the manufacturing facility and backward integration for manufacturing of hollow pipes.

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