The IPO of Vinus Pipes And Tubes was subscribed 16.31 times on the last day of subscription. The company will be listed on BSE and NSE on 24 May. According to experts monitoring the gray market, the company is trading today at a premium of Rs. Which is good news for investors before listing.
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When will allotment of shares happen?
The allotment of shares of Vinus Pipes and Tubes is likely on 19 May 2022. If the allotment of shares is done on May 19, then on May 23, the credit of the shares will be done in the demat account. The company has fixed the price band for the IPO from Rs 310 to Rs 326 per share.
The proceeds from the IPO will be used for capacity expansion, working capital requirements and general corporate purposes.
The company’s ‘Venus’ brand products are supplied in diverse sectors such as chemicals, engineering, fertilizers, pharmaceuticals, energy, food processing, paper and oil & gas. The company is a manufacturer and exporter of Stainless Steel Pipes and Tubes.