IPO came three months ago, today the stock made a new record, the investors were blown away A to Z Counsel

Venus Pipes and Tubes share: Three months ago on May 24, the stock (IPO) of Venus Pipes & Tubes debuted in the market. The shares of the company were then listed at Rs 337.50 with a premium of 4% against its issue price of Rs 326. After this today Venus Pipes & Tubes touched a new high of Rs 586.65 on BSE. The company’s shares had climbed up to 11% in intraday trading. Explain that the investors have got up to 80% profit from the issue price. However, there was a slight decline later and the stock closed at Rs 545.

BIS approval to the company

The company’s shares are rising steadily due to a healthy business outlook. The stock has gained 47 percent in the past two weeks. The company said on September 10, 2022 that it has become the first Indian company to receive Bureau of Indian Standards (BIS) approval for stainless steel seamless and welded pipes and tubes.

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Know about the company

Venus will use the funds raised from the IPO for the company’s projects. Venus Pipes & Tubes is a Gujarat based company which is a manufacturer and exporter of Stainless Steel Pipes and Tubes. The company supplies its products under the Venus brand name for application in a variety of sectors including chemicals, engineering, fertilizers, pharmaceuticals, power, food processing, paper and oil and gas.