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IPO

Venus Pipes & Tubes's Rs.165-Cr IPO subscribed 16.31 times

Economic Times  

The INR 165.42 crore initial public offer (IPO) of Venus Pipes and Tubes ended with investors bidding for 5,79,29,824 equity shares or 16.31 times compared to the 35,51,914 equity shares offered for subscription. The quota for retail bidders was subscribed 19.04 times, and that of qualified institutional buyers, 12.02 times. Non-institutional bidder's portion was subscribed 15.66 times. The company had reserved 50% of the net offer for qualified institutional buyers (QIBs), whereas non-institutional buyers (NIIs) got a 15% allocation. The remaining 35% shares was given to the retail bidders. Venus Pipes and Tubes manufactures and exports stainless steel pipes and tubes.