Venus Pipes & Tubes IPO
Venus Pipes & Tubes IPO — date, price band, lot size & details 2022
Venus Pipes & Tubes listed on 24 May 2022 at ₹337.5, 3.5% above the ₹326 issue price.
Venus Pipes & Tubes makes and exports stainless steel seamless and welded pipes and tubes from a plant in Kutch, Gujarat. Its total income was Rs 312.03 crore in FY2021.
Stock price
Venus Pipes & Tubes is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 11 May 2022
- Close 13 May 2022
- Allotment 19 May 2022
- Refund/credit 20 May 2022
- Listing 24 May 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 11 to 13 May, 2022 |
|---|---|
| Price Band | ₹310 – ₹326 |
| Face Value | ₹10 |
| Lot Size | 46 Shares |
| Issue Size | ₹165.42 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,996 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 46 shares at the ₹326 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 46 | ₹14,996 |
| Retail (max) | 13 | 598 | ₹1,94,948 |
| S-HNI (min) | 14 | 644 | ₹2,09,944 |
| S-HNI (max) | 66 | 3,036 | ₹9,89,736 |
| B-HNI (min) | 67 | 3,082 | ₹10,04,732 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 120.51 crore in FY2019 to Rs 312.03 crore in FY2021.
- 02Profit after tax rose from Rs 3.75 crore in FY2019 to Rs 23.63 crore in FY2021.
- 03The whole Rs 165.42 crore issue was fresh capital, mostly for expansion.
- 04The source puts return on capital employed at 61%.
- 05The P/E was 21.01 at the upper band of Rs 326, based on pre-issue EPS of Rs 15.52.
Risks · 5
- 01The company has a single plant with 10,800 MT of capacity, so any disruption there hits all output.
- 02Net worth was small before the recent capital, at Rs 39.93 crore on 31 March 2021.
- 03Total borrowing rose to Rs 50.01 crore on 31 December 2021.
- 04Stainless steel prices swing, and the source puts the PAT margin at 7.57%.
- 05Promoters and the promoter group held 64.27% before the issue and 48.2% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Venus Pipes & Tubes offer document.
| Metric | 31 Dec 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 246.28 | 137.54 | 107.19 | 79.12 |
| Total Income | 278.28 | 312.03 | 179.32 | 120.51 |
| Profit After Tax | 23.60 | 23.63 | 4.13 | 3.75 |
| EBITDA | 35.51 | 34.78 | 11.64 | 8.29 |
| NET Worth | 120.48 | 39.93 | 16.28 | 12.17 |
| Reserves and Surplus | 105.26 | 31.20 | 7.54 | 3.44 |
| Total Borrowing | 50.01 | 37.50 | 42.61 | 29.42 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Venus Pipes & Tubes RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Venus Pipes & Tubes IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹15.52 | ₹15.50 |
| P/E Ratio (x) | 21.01 | 21.03 |
| Market Cap at Offer Price (₹ Cr) | ₹495.72 | ₹496.36 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹326 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹151.53 Cr of the issue is earmarked to named objects.
Venus Pipes & Tubes IPO Anchor Investors
3 anchor investors across 3 fund houses committed ₹49.62 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Nippon India Small Cap Fund | Nippon India Mutual Fund | 700,028 | 22.82 | 45.99% |
| Kotak Mahindra Life Insurance Company Ltd. | Kotak | 606,510 | 19.77 | 39.84% |
| India Sme Investments - Fund I | - | 215,648 | 7.03 | 14.17% |
| Total anchor allocation | 49.62 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its five product lines are high precision and heat exchanger tubes, hydraulic and instrumentation tubes, seamless pipes, welded pipes and box pipes, sold under the Venus brand. They are used in chemicals, engineering, fertilisers, pharmaceuticals, power, food processing, paper, and oil and gas.
Its single plant is on the Bhuj-Bhachau highway at Dhaneti in Kutch, Gujarat, with installed capacity of 10,800 MT a year. It exports to 18 countries, including Brazil, the UK, Israel and countries in the European Union.
The IPO was Rs 165.42 crore and was entirely fresh issue. Rs 111.58 crore was planned for capacity expansion and backward integration into hollow pipes.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Venus Pipes & Tubes IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SMC Capitals Ltd
2 issues handled2 of their issues have listed so far, and 2 opened above the issue price (average +22.6%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Venus Pipes & Tubes?
The current Grey Market Premium is ₹35, or 11% over the issue price.
What is the Venus Pipes & Tubes IPO price band?
₹310 to ₹326, on a face value of ₹10.
When is the allotment?
The basis of allotment is 19 May 2022, with listing on 24 May 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
