The Investment Banking Arm of the SMC Group

About the Transaction :

It is our immense pleasure to announce successful closure of the public issue of Venus Pipes & Tubes Limited wherein SMC Capitals Limited was Sole Book Running Lead Manager.

Significance of the Deal:

The deal was a unique domestic capital markets offering in the stainless-steel pipes & tubes manufacturing sector which received significant investor traction amid volatile market conditions. The offering attracted marquee investors such as Nippon India, Nomura, BNP Paribas, Kotak Life Insurance, India SME Fund and Taurus Mutual Fund.

The offering generated a strong response from the investors and was subscribed 16.31 times with a breakup as given below:

(1) Qualified Institutional Investors 12.02 times

(2) Retail Investors 19.04 times

(3) Non-Institutional Investors 15.66 times

The deal was also honoured by the Golden Book of World Records with the certificate of excellence for the “fastest subscribed IPO” with the offering being subscribed within 87 minutes of its opening

About Venus Pipes & Tubes Limited:

The Company is one of the growing stainless-steel pipes and tubes manufacturer strategically located at Bhuj-Bhachau highway, Dhaneti (Kutch, Gujarat) with a total installed capacity of 10,800 MT per annum and exporter in India having over six years of experience in manufacturing of stainless-steel tubular products in two broad categories of seamless tubes/pipes and welded tubes/pipes.

Under its brand name “Venus”, the Company supplies its products for applications in diverse sectors.

The Company began exporting its products in the year 2017 and presently exports to 20 countries.

Saraya Mystair

Saraya, based in Osaka , is a leading global manufacturer of infection control, sanitation and hygiene products with 12 factories, 3 R&D labs and over 1800 people supporting customers across Asia-Pacific, North America and Europe. Saraya’s line of business extends from hand hygiene products to all forms of sanitation such as food safety, infection prevention and control, and public health, as well as functional foods

Based in Manesar, Mystair, since its inception in 2010, has been a market leader in providing world-class hygiene solutions to institutional customers in ‘Away From Home’ (AFH) market. Through its pan India presence, Mystair caters to a diverse set of marquee customers in the Aviation, Airports, Hospitals, Corporates, Hospitality, Education, and Manufacturing sector.

Commenting on the transaction, Mr. Yusuke Saraya, President Saraya Co. Ltd, explains “Mystair offers an exciting platform for tapping the rapidly developing Indian market with increased awareness in health and hygiene space. In the future, Saraya shall focus on strengthening growth locally by contributing Saraya’s technological expertise and brands to the Indian market”

Rajesh Gupta, Founder and MD of Mystair, commented “Mystair partnership with Saraya will help strengthen our growth and provides an avenue to introduce Saraya’s global hygiene products range. With the ongoing Covid crisis restoring the focus towards infection control and sanitization, the launch of new products will enable conducive positioning to support our AFH customers in near future.”