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.