Venus Pipes & Tubes has greenlit a ₹371.99 crore preferential equity issue, allotting 22,27,544 shares at ₹1,670 each—a premium of ₹1,660 on the ₹10 face value, per board minutes dated September 16.
The allotment will see 18 non‑promoter investors, including Kitara PIIN 2401 (₹50 crore), WhiteOak Capital India Opportunities Fund (₹42 crore), Ashoka WhiteOak India Opportunities Fund (₹39.63 crore), Ashish Kacholia and Bengal Finance (₹30 crore each), Carnelian Bharat Amritkaal Fund (₹35.50 crore) and Kotak Mahindra Life Insurance Company (₹20 crore).
Post‑issue, total equity shares will swell to 2,29,43,654 from 2,07,16,110, diluting promoter holdings from 48.41% to 43.71% and boosting public shareholding to 56.29% from 51.59%, as disclosed in the BSE filing.
Shareholders will vote on the deal at an Extraordinary General Meeting on October 8 via video‑conferencing, with the eligibility cut‑off fixed for October 1, the board minutes note.
On September 16, NSE shares slipped 0.24% to ₹1,937, reflecting market caution ahead of the AGM and the sizable capital raise.