Venus Pipes Tubes IPO Will Knock The Market on May 11
Venus Pipes Tubes IPO will knock on May 11 and investors will get a chance to earn.
The initial share sale of Venus Pipes & Tubes will open for public subscription on May 11. The public issue for the sale of 50.74 lakh equity shares of the company will close on May 13.
According to Venus Pipes & Tubes’ red herring prospectus (RHP), bids will open for anchor investors on May 10.
The money will be used for the construction of Hollow Pipes.
According to Venus Pipes & Tubes, the proceeds from the public issue will be used to fund the project cost for capacity expansion and construction of Hollow Pipes.
As well as meeting working capital requirements and general corporate objectives. Manufactures products for chemical, engineering, fertilizer, pharmaceuticals, power sector
Venus Pipes & Tubes has nearly six years of experience in manufacturing stainless steel tubular products in two broad categories, Seamless Tube & Pipe and Welded Tube & Pipe.
Under the “Venus” brand name the company supplies its products for applications in a variety of sectors including chemicals, engineering, fertilizers, pharmaceuticals, power, food processing, paper, and oil and gas.
SMC Capitals Sole Book Running Lead Manager.
It is one of the leading manufacturers and exporters of Stainless-Steel Pipes and Tubes in India.
SMC Capitals is the sole Book Running Lead Manager for the issue. The equity shares of the company are proposed to be listed on BSE and NSE.
ASBA-designated banks to remain open on Sundays.
Meanwhile, regarding the LIC IPO, RBI has said that all ASBA-designated banks (Application Supported by Blocked Accounts) will remain open on Sundays for the convenience of the people applying for it.
RBI has taken this decision at the request of the government. This means that after this decision of RBI, all the banks through which LIC application is to be processed will remain open on Sundays as well.
Investors generally apply for shares in a public issue through an ASBA. Indeed, SEBI has empowered investors to make payments through the alternative route ASBA while applying for IPO of equity shares.
Under this, investors can make payments through banks. The special thing is that the money will be deducted from the bank only when the shares are allotted to you.
Second, investors will also be saved from problems related to refunds.
