IPO Note - Venus Pipes & Tubes Ltd By Jainam Share Consultant
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About the company
• “Venus Pipes & Tubes Ltd” was incorporated on February 17, 2015.
• One of the fastest growing stainless steel pipes and tubes manufacturer and exporter in India having over six years of experience in manufacturing of stainless steel tubular products.
• The company has in-house quality team comprising of 27 dedicated personnel.
• They have one manufacturing plant which is strategically located at Bhuj-Bhachau highway, Dhaneti (“Manufacturing Facility”) in close proximity, around 55 kilometers and 75 from the ports of Kandla and Mundra.
• Their Manufacturing Facility has a total installed capacity of 10,800 MT per annum.
About the company
• The promoters have an average experience of approximately eight years in stainless steel welded pipes and tubes industry in addition to expertise in marketing, procurement, finance, accounting and customer relationship management.
• They are exporting to 20 countries including Brazil, UK, Israel and countries in the European Union.
What is working for the company?
• International Accreditations and product approvals.
• Specialized production of Stainless Steel Pipes and Tubes.
• Multi-fold demand of Products.
• Customer Diversification due to both exports and sales in India.
• Experienced and Qualified Team.
What is not working for the company?
• High threat of competitors.
• The demand in the steel and steel products industry is volatile.
• Continuous effect on cost price of final products due to fluctuations in steel prices.
• Adverse effect on pricing ability due to online retailers.
Our Recommendation
• We recommend you to SUBSCRIBE to this IPO on the following parameters:
• One of the objects of the issue is the financing of the project cost towards capacity expansion, technological up gradation, cost optimization of our operations and support to the manufacturing facility and backward integration for manufacturing of hollow pipes.
• The issue seems fairly priced.
• The management team possess good experience in this field.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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