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Venus Pipes & Tubes files draft papers to raise funds through IPO

28 Dec 2021 Evaluate

Venus Pipes & Tubes has filed draft papers with markets regulator Sebi to raise funds through an initial share sale. Through the Initial Public Offering (IPO), 50.74 lakh equity shares of the company will be sold.

Proceeds from the public issue will be used for financing the project cost towards capacity expansion and backward integration for manufacturing of hollow pipes, to meet working capital requirements and for general corporate purposes. SMC Capitals is the sole book running lead managers to the issue. The equity shares of the company are proposed to be listed on BSE and NSE.

Venus Pipes & Tubes is one of the growing stainless steel pipes and tubes manufacturer and exporter in the country.

Peers
Company Name CMP
JSW Steel 1182.00
Tata Steel 174.70
Steel Authority 172.80
Jindal Stainless 722.15
APL Apollo Tubes 2177.60
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