Venus Pipes & Tubes Limited

Venus Pipes & Tubes Limited (VPTL) is a Gujarat-based manufacturer and exporter of stainless steel tubular products. The company was incorporated in 2015 as a private limited company and converted into a public limited company in September 2021. Its product range spans two broad categories, seamless and welded tubes and pipes, including stainless steel high precision and heat exchanger tubes, hydraulic and instrumentation tubes, seamless pipes, welded pipes and box pipes. The company operates a single manufacturing facility on the Bhuj-Bhachau highway at Dhaneti in the Kutch district of Gujarat, with an installed capacity of about 10,800 metric tonnes per annum. VPTL exports its products to more than 18 countries, including Brazil, the United Kingdom, Israel and several countries in the European Union, alongside serving the domestic market. The company reported strong growth in revenue and profitability in the years leading up to its public listing, with turnover rising from around Rs 120 crore in FY19 to over Rs 312 crore in FY21. VPTL raised fresh capital through its initial public offering primarily to fund long-term working capital needs, capacity expansion, technology upgrades and general corporate purposes, and its shares were admitted to trading on the NSE and BSE in May 2022.

Ahead of the offer, the company allocated shares to anchor investors including Nippon India Small Cap Fund, Kotak Mahindra Life Insurance Company and India SME Investments Fund 1, together accounting for a significant part of the anchor book.