Venus Pipes shares rise over 3.5% in debut commerce

Shares of Venus Pipes & Tubes on Tuesday opened for commerce on bourses with a achieve of over 3.5 per cent towards the difficulty value of Rs 332.

The inventory listed at Rs 335, an increase of two.76 per cent, on the BSE. It additional gained 7.89 per cent to Rs 351.75.

At the NSE, the shares of the corporate opened at Rs 337.50, up 3.52 per cent.

The preliminary public supply of Venus Pipes and Tubes was subscribed 16.31 occasions earlier this month.

The IPO of fifty,74,100 fairness shares had a value vary of Rs 310-326 per share.

The Gujarat-based firm is a producer and exporter of stainless-steel pipes and tubes.

The firm, below the model identify Venus, provides its merchandise for software in numerous sectors, together with chemical compounds, engineering, fertilisers, prescription drugs, energy, meals processing, paper and oil and gasoline.