Qualified institutional buyers have, so far, subscribed only 36 percent of their quota of 10.14 lakh shares
The company intends to mop up Rs 165.41 crore through the IPO and use the proceeds to finance its project cost of hollow pipes and meet working capital requirements
The investor confidence in primary market is fluctuating with the prevailing market sentiments and the same is reflecting on the GMP of the IPOs currently open for subscription
Venus Pipes has reserved half the total offer for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 35 percent for retail investors.
The company's public issue will open for subscription on May 11 and close on May 13.
Anand Rathi has come out with its report on Venus Pipes and Tubes. The research firm has recommended to ''Avoid'' the ipo in its research report as on May 10, 2022.