Venus Pipes & Tubes shares lists on bourses; closes at a premium to its issue price

 Venus Pipes & Tubes shares lists on bourses; closes at a premium to its issue price 

Mumbai, May 24, 2022: Gujarat-based Venus Pipes & Tubes Limited, one of the leading Stainless Steel Pipes and Tubes Manufacturer, listed on the NSE at Rs 337.50 at 3.53% premium over its issue price. The scrip got listed at BSE at Rs 335 per share, 2.76% per cent premium over its issue price of Rs 326. The company's share price closed at Rs 351.75 per share on the BSE, a 7.90% premium, and at Rs 354.35 per share on the NSE, an 8.70% premium.

As per NSE, the total quantity traded stood at 12.14 lakh shares, on BSE the total Quantity stood at 0.41 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 43.18 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 713.92 Crore as per BSE and Rs. 719.19 Crore as per NSE.

The initial share sale with a face value of Rs 10 per equity share, is entirely a fresh issue of 50,74,100 equity shares, with no offer for sale component and the issue was closed on 13th May 2022. The non-institutional investors portion was subscribed 15.66 times, while the part set aside for Qualified institutional buyers was subscribed 12.02 times. Retail investors had put in bid 19.04 times the shares reserved for them. Overall the issue was subscribed 16.31 times.

SMC Capitals Limited is the sole book running lead managers and Kfin Technologies Limited is the registrar to the offer. The equity shares of the company are proposed to be listed on BSE and NSE.