HomeWorld NewsMultibagger IPO: Himalaya Finance buys shares of this newly listed stock

Multibagger IPO: Himalaya Finance buys shares of this newly listed stock

  • December 3, 2022
  • Posted by: Bastion team
  • Category: World News
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Himalya Finance & Investment Company bought 5 million shares of Venus Pipes and Tubes through open market transaction on Thursday, December 1, 2022. The investment company purchased about 2.5% of the total equity at ₹650.42 per share via block deal, showed NSE data.

Venus Pipes shares made their stock market debut in May this year and the newly listed stock has given multibagger return by rallying more than 115% in about last six and a half months since its listing on the stock exchanges, from its initial public offering (IPO) issue price of ₹326 per share to currently hovering over ₹710.

The public issue of Venus Pipes and Tubes was subscribed 16.31 times which was opened from May 11, 2022 to May 13. The public issue comprised sale of 50.74 lakh fresh equity shares of the company and there was no offer for sale (OFS) component.

The Gujarat-based company is a growing stainless-steel pipes and tubes manufacturer and exporter in India. The company, under the brand name Venus, supplies its products for applications in diverse sectors, including…

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