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.
