Venus Pipes & Tubes Limited has informed the Exchange regarding allotment of 61000 securities pursuant to Convertible Securities at its meeting held on Jun 19, 2025
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Venus Pipes & Tubes has allotted 61,000 equity shares following the conversion of convertible warrants that were originally issued on a preferential basis on April 10, 2024. Two promoter warrant holders — Mr. Arun Axaykumar Kothari and Mr. Jayantiram Motiram Choudhary — exercised their conversion right at Rs. 1,700 per share (face value Rs. 10, premium Rs. 1,690). The company received the balance 75% exercise price of Rs. 1,275 per warrant, totalling about Rs. 7.78 crore. Post-allotment, the paid-up equity share capital stands at Rs. 20.49 crore, comprising 2,04,92,110 shares of Rs. 10 each.
Minor dilution of roughly 0.3% as the share count rises by 61,000. The fact that promoters themselves are converting warrants (and paying the balance amount) signals promoter confidence, while the company also receives ~Rs. 7.78 crore in fresh capital.