Venus Pipes completes ₹71.4 crore equity infusion

Venus Pipes & Tubes Ltd announced the successful completion of a ₹71.4 crore equity infusion through the conversion of warrants into equity shares. This follows an earlier intimation on February 28, 2024, regarding a preferential issue of warrants to promoter and non-promoter entities to support planned expansion. The company confirmed receipt of the final tranche of payment from the allotted participant, marking the conversion of 420,000 warrants into equity shares at an issue price of ₹1,700 per share.

This successful conversion, totaling ₹71.4 crore, highlights the promoter group’s strong confidence in Venus Pipes' long-term growth potential and strategic direction. According to Arun Kothari, chairman & managing director, the funds will support planned capital expenditure, bolster financial strength, fuel growth, and improve operational capabilities.

The company, a leading manufacturer and exporter of stainless-steel pipes and tubes, anticipates that this investment will equip it to capitalize on new opportunities and consistently deliver value to its customers and stakeholders.