Venus Pipes and Tubes Limited (VPTL), a leading manufacturer of stainless steel pipes, has been approved by market regulator Sebi to raise funds through an initial public offering (IPO). According to market sources, the company will raise funds ranging from Rs 175 crore to Rs 225 crore. Venus Pipes and Tubes Limited is one of the emerging stainless steel pipe manufacturers and exporters in the country with more than six years of experience, mainly divided into two categories, namely seamless pipe/pipe and welded pipe/pipe. The company is proud to supply its wide range of products to more than 20 countries worldwide. The size of the offer includes the sale of 5.074 million shares of the company. Rs 1,059.9 crore of the issuance will be used to fund capacity expansion and reverse integration in hollow pipe manufacturing, and Rs 250 crore to meet working capital needs, in addition to general corporate purposes. At present, VPTL manufactures five product lines, namely, high-precision stainless steel heat exchange tubes, stainless steel tubes for hydraulic and instrumentation, seamless stainless steel tubes, welded stainless steel tubes, and stainless steel box tubes. Under the Venus brand, the company supplies products to various industries, including chemical, engineering, fertilizer, pharmaceutical, energy, food, paper and oil and gas. Products are sold both domestically and internationally, either directly to customers or through merchants/sellers and authorized distributors. They are exported to 18 countries including Brazil, UK, Israel and EU countries. The company has a manufacturing unit strategically located on the Bhuj-Bhachau highway, near the ports of Kandla and Mundra. The manufacturing facility has separate seamless and welding workshops equipped with the latest specialized machinery and equipment, including tube mills, pilger mills, wire drawing machines, swaging machines, pipe straightening machines, TIG/MIG welding machines, plasma welding systems, etc., with total installed capacity of 10,800 metric tons per year. In addition, he has a warehouse in Ahmedabad. VPTL’s operating revenue for FY 2021 increased by 73.97% to Rs 3,093.3 crore from Rs 1,778.1 crore in FY 20 mainly due to increased sales of our products as a result of strong growth in domestic and international markets. export demand, while its net income jumped from Rs 4.13 crore in FY 20 to Rs 236.3 crore in FY 21. SMC Capitals Limited is the sole lead accountant on this issue. The company’s shares are planned to be listed on the Shenzhen Stock Exchange and the Singapore Stock Exchange.
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Post time: Jan-31-2023