New Delhi: Venus Pipes IPO was subscribed 16.31 times on the last day of subscription on Friday, May 14. This means that the initial public offer of Venus Pipes and Tubes received an impressive demand from the investors. According to NSE data, the IPO received bids for 5,79,48,730 shares against 35,51,914 shares on offer. The company has already raised over Rs 49 crore from anchor investors. Investors now must be tracking the latest Venus Pipes IPO GMP and expected listing price to get an idea of whether they will make a profit or face a loss on listing day.
Venus Pipes IPO Subscription Status
The demand for Venus Pipes IPO shares was more or less the same among all investor categories. For instance, the quota for Retail Individual Investors (RIIs) was subscribed 19.04 times. On the other hand, the portion for non-institutional investors received 15.69 times subscription and Qualified Institutional Buyers (QIBs) 12.02 times.
Venus Pipes IPO Details
Venus Pipes IPO has put 50,74,100 equity shares on the offer. The company had a price range of Rs 310-326 per share.
Venus Pipes IPO Grey Market Premium (GMP)
According to market observers, the Venus IPO shares are selling with a premium of Rs 30 in the grey market. The GMP suggests that investors could make a profit worth Rs 30 or about 5% on the day of listing. Also Read: Got bank note with 786 serial number? You can earn up to Rs 3 lakh by selling it online, here’s how
Venus Pipes IPO Expected Listing Price
Venus Pipes IPO shares are expected to list at Rs 356 per share at the upper end of the price band. However, this is just an indicative price and the rate at which the share will list could be different. Also Read: A lame-duck CEO will keep changing Twitter: Parag Agrawal breaks silence on acquisition