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Venus Pipes IPO: Subscribes by 4.43 times on Day 2 driven by retail investors, HNIs

By Livemint
The IPO opened on May 11 and will be available for subscription till May 13. (iStockphoto)

Data given on NSE showed that on Thursday, the IPO received cumulative bids of 1,57,21,696 equity shares against 35,51,914 equity shares - registering a subscription of 4.43 times.

As per the data, the portion reserved for retail individual investors (RIIs) oversubscribed by 7.52 times, while the portion allocated to Non-Institutional Investors (NIIs) aka HNIs oversubscribed by 2.61 times.

However, the portion kept for Qualified Institutional Buyers (QIBs) received bids of 3,69,932 equity shares - subscribing by 36% against the reserved size of 10,14,864 equity shares.

The IPO opened on May 11 and will be available for subscription till May 13. The IPO has a price band of 310 to 326 per equity share.

The bid lot size is 46 Equity Shares and in multiples thereof. Retail investors can bid up to a maximum of 2 lakh.

The company plans to utilise proceeds from the public offer 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.

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Dive Deeper:
Venus Pipes IPO fully subscribed, retail segment overbooked on day 1. GMP, key points
Venus Pipes & Tubes IPO, with a price band of ₹310-326 a share, will be open till Friday, May 13,…
LIC IPO share allotment: How to check your status
NEW DELHI: India's biggest initial public offer (IPO) by Life Insurance Corporation (LIC) received a stellar response from investors.
Prudent Corporate Advisory IPO fully subscribes by 1.22 times on last day
The portion kept for Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs) fully subscribed by 1.26 times and 1.29…
Delhivery IPO: Institutional buyers push ₹5,235 cr issue through on final day
Data given on exchanges showed that Delhivery IPO received cumulative bids of about 101.6 million shares against the offered size…
One subscription that gives you access to news from hundreds of sites
LIC listing: Govt fixes issue price at ₹949; retail investors, policyholders get discount
During the IPO, a discount of ₹45 per share discount to eligible employees of LIC and retail investors. Meanwhile, there…
Delhivery IPO sees tepid response, subscribed just 23% on Day 2
The IPO received bids for 1,45,01,730 shares against 6,25,41,023 shares on offer, according to NSE data.
Get all your news in one place