Mumbai: Shares of Gujarat-based Venus Pipes & Tubes ended with a gain of nearly 8% on the BSE on Tuesday at ₹351.75 after listing at a 2.7% premium to its IPO price of ₹326 earlier in the day.
The company’s IPO priced at ₹310-326 per share was subscribed 16.3 times earlier this month, through which Venus Pipes raised ₹165.4 crore in fresh capital.
The stock opened at ₹337.50 on the NSE, up 3.5% from the IPO price.
The retail portion was subscribed 19.04 times and the portion set aside for non-institutional investors received 15.69 times subscription. The qualified institutional buyers’ portion was subscribed 12.02 times.
Before the IPO, Venus Pipes had collected over ₹49 crore from anchor investors.
The company, under the brand name Venus, supplies its products for application in diverse sectors, including chemicals, engineering, fertilisers, pharmaceuticals, power, food processing, paper and oil and gas.