Venus Pipes & Tubes has filed draft papers with markets regulator Sebi to raise funds through an initial share sale. Through the Initial Public Offering (IPO), 50.74 lakh equity shares of the company will be sold.
Proceeds from the public issue will be used for financing the project cost towards capacity expansion and backward integration for manufacturing of hollow pipes, to meet working capital requirements and for general corporate purposes. SMC Capitals is the sole book running lead managers to the issue. The equity shares of the company are proposed to be listed on BSE and NSE.
Venus Pipes & Tubes is one of the growing stainless steel pipes and tubes manufacturer and exporter in the country.