Ambitious expansion launches Venus Pipes & Tubes on global market
When Venus Pipes and Tubes began manufacturing stainless steel tubular products in 2015 , few could have predicted the company ’ s stratospheric growth in India ’ s seamless and welded tube and pipe sector . Today the company is undergoing an ambitious expansion funded by its recent listing on the Indian Stock Exchange . Once complete , it will propel the company into the number one position as India ’ s largest stainless pipes and tubes manufacturer . Director of Marketing Mr . Dhruv Patel charts the company ’ s extraordinary journey .
By Joanne McIntyre
Venus Pipes & Tubes was founded in December 2015 by four partners who had the vision of providing topquality stainless steel products to their clients . Each partner has a different background and brings unique expertise to the company . Mr . Arun Kothari ( Managing Director and CFO ) is a qualified Chartered Accountant . The cousins Mr . Mahesh Chaudhary and Mr . Jitendra Chaudhary each have more than twenty-five years of experience in trading tubular products , while Mr . Dhruv Patel ( Director of Marketing ) has a background in engineering . “ We had all had reached a point in our careers where we were searching for a new opportunity ,” explains
Mr . Patel . “ The idea to start manufacturing stainless steel pipes and tubes arose when we realised that there were very few players in this sector in India . We already had a substantial client base in the domestic market , and we knew this was a sector with great potential in which we could make a name for ourselves .”
Rapid growth The company ’ s initial monthly capacity was 200 metric tonnes ( MT ), which grew to 1000 MT per month by 2020 . Increasing output by a factor of five within five years meant the Venus facility was working at almost maximum capacity , and expansion was essential .
“ Last year , we decided the time was ripe to expand the business significantly . To raise funds and attract investors , we decided to go public and list the company on the Indian stock exchange . Our Initial Public Offering ( IPO ) was fully subscribed within eighty minutes of opening , setting a new record ,” smiles Mr . Kothari . A recent company valuation in the second half of 2022 placed the value of Venus Pipes & Tubes at over USD 125 million .
First-of-a-kind investments in India Following its IPO , the Venus team acquired a further 56,650 m 2 of land to accommodate the planned expansion of facilities , bringing the total size of
8 Stainless Steel World November 2022 www . stainless-steel-world . net