Venus Pipes & Tubes Limited has informed the Exchange about Conversion
VENUSPIPES · price
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Venus Pipes & Tubes has allotted 61,000 equity shares following the exercise of convertible warrants by two promoter-group warrant holders. The shares were issued at Rs. 1,700 each (face value Rs. 10, premium Rs. 1,690), on payment of the balance 75% exercise price of Rs. 1,275 per warrant. The company received approximately Rs. 7.78 crore in total from this conversion. As a result, the company's paid-up equity capital has risen to Rs. 20.49 crore, comprising 2,04,92,110 equity shares of Rs. 10 each.
This is a routine warrant conversion by existing promoters, not new fundraising from the market, so it has minimal dilution impact and no material effect on the stock price. Shareholding of the promoter group increases slightly, reinforcing insider confidence in the company.