Venus Pipes stock gains 9% on listing; eMudhra IPO subscribed 2.7x

Venus Pipes & Tubes ended with a gain of 8.6 per cent over its issue price on Tuesday, as the stock closed at a day’s high of Rs 354 against the issue price of Rs 326. It had opened at Rs 337. Venus Pipes’ IPO was subscribed 16.3 times. The company manufactures stainless steel pipes and tubes. Through the IPO, Venus Pipes raised Rs 165.4 crore in fresh capital.

eMudhra IPO subscribed 2.7x

Digital certificates provider eMudhra’s IPO garnered 2.7 times subscription. The retail investor portion of the issue was subscribed 2.6 times. The high networth individual and institutional investor portion were subscribed 4 times and 1.3 times respectively. eMudhra has priced the IPO between Rs 243-256 per share. At the top-end, the company is valued at Rs 2,000 crore. The IPO comprises Rs 200 crore fresh fund raise and Rs 213 crore secondary share sale.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Recent Posts

Scan to Download
ios&Android APP

Open trading account and start trading!

Join our happy customers