Gujarat-based Venus Pipes & Tubes Limited IPO opened from subscription from May 11 and closed on May 13.
Venus Pipes & Tubes aims to raise Rs 165.42 crore from its public offer.
The price band has been set at Rs 310-326 per share.
Venus Pipes IPO comprises sale of 50.74 lakh fresh equity shares of the company. There is no offer for sale (OFS) component.
The company garnered Rs 49.62 crore from anchor investors ahead of its initial share sale.
Prashant Tapse, Vice President (Research), Mehta Equities Ltd, said, "Considering healthy response from all the category investors, we believe it would list around Rs 340-360 levels, which translates to 5-10 percent premium over the upper end of the IPO price Rs 326. Decent listing gain seems to be justified with increasing multi-fold demand for its products and company aiming to doubling its capacity to cater the demand. On valuation per se the issue is fully priced-in. Investors should note that Venus Pipes falls under or below Rs 250 cr IPO and initial it will be listing under “T” group, hence Investors should consider this and trade it accordingly with medium to long term perspectives.
