Stainless steel pipes and tubes manufacturer Venus Pipes & Tubes on May 10 mopped up Rs 49.62 crore from three anchor investors, ahead of its IPO.
The public issue will open for subscription on May 11 and close on May 13.
The company in its BSE filing said it has finalised the allocation of 15.22 lakh equity shares to anchor investors at a price of Rs 326 per share.
Nippon India Small Cap Fund has bought 7 lakh equity shares of Venus Pipes and Kotak Mahindra Life Insurance Company 6.06 lakh shares through the anchor book. India SME Investments-Fund 1 also participated in the offer and acquired 2.15 lakh shares of the company.
Venus Pipes & Tubes intends to raise Rs 165.42 crore through the public issue that comprises a fresh issue of 50.74 lakh equity shares.
The price band for the offer has been fixed at Rs 310-326 per share. Investors can bid for a minimum of 46 equity shares and in multiples of 46 shares thereafter.
Half of the offer is reserved for qualified institutional investors, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.