The cash will be utilized for the development of Hollow Pipes.
As per Venus Pipes and Tubes, the returns from the public issue will be utilized to back the venture cost for limit extension and development of Hollow Pipes. As well as meeting working capital necessities and general corporate goals.
Makes items for substance, designing, compost, drugs, power area
Venus Pipes and Tubes has almost six years of involvement with assembling treated steel cylindrical items in two general classifications, Seamless Tube and Pipe and Welded Tube and Pipe. Under the "Venus" brand name the organization supplies its items for applications in an assortment of areas including synthetic compounds, designing, manures, drugs, power, food handling, paper and oil and gas.
SMC Capitals Sole Book Running Lead Manager
It is one of the main producers and exporters of Stainless-Steel Pipes and Tubes in India. SMC Capitals is the sole Book Running Lead Manager to the issue. The value portions of the organization are proposed to be recorded on BSE and NSE.
ASBA-assigned banks to stay open on Sundays
In the mean time, with respect to the LIC IPO, RBI has said that all ASBA-assigned banks (Application Supported by Blocked Accounts) will stay open on Sundays for the comfort of individuals applying for it. RBI has taken this choice on the solicitation of the public authority. This means that after this decision of RBI, all the banks through which LIC application is to be processed will remain open on Sundays as well. Investors generally apply for shares in a public issue through an ASBA.
For sure, SEBI has enabled financial backers to make installments through the elective course ASBA while applying for IPO of value shares. Under this, financial backers can make installments through banks. Interestingly, cash will be deducted from the bank just when the offers are distributed to you. Second, financial backers will likewise be saved from issues connected with discounts.
