Venus Pipes IPO: Will subscribers make a profit or suffer a loss? Here’s what the latest GMP suggests | Market news

New Delhi: Venus Pipes IPO was subscribed 16.31 times on the last day of subscription Friday, May 14. This means that Venus Pipes and Tubes’ initial public offering has received impressive demand from investors. According to data from NSE, 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 should now follow Venus Pipes GMP’s latest IPO and expected listing price to get an idea of ​​whether they will make a profit or loss on listing day.

Venus Pipes IPO Subscription Status

The demand for Venus Pipes IPO shares was more or less the same among all categories of investors. For example, the quota for Individual Retail Investors (RII) was subscribed 19.04 times. On the other hand, the part intended for non-institutional investors received 15.69 times the subscription and the Qualified Institutional Buyers (QIB) 12.02 times.

Venus Pipes IPO Details

Venus Pipes IPO has put 50,74,100 shares on offer. The company had a price range of Rs 310-326 per share.

Venus Pipes IPO Gray Market Premium (GMP)

According to market watchers, Venus IPO shares are selling at a premium of Rs 30 in the gray market. The GMP suggests that investors could make a profit worth Rs 30 or around 5% on the day of listing. Also read: Do you have a banknote with the serial number 786? You can earn up to Rs 3 lakh selling it online, here’s how

Venus Pipes IPO Expected Listing Price

Venus Pipes IPO shares are expected to trade at Rs 356 per share at the upper end of the price range. However, this is only an indicative price and the rate at which the stock will be quoted could be different. Also read: A lame CEO will keep changing Twitter: Parag Agrawal breaks silence on acquisition