The company, in an exchange filing on Wednesday, said its board, at its meeting, approved the preferential allotment of 22.27 lakh equity shares of face value ₹10 on a private placement basis. The price of the issue of shares was fixed at ₹1,670 per share, taking the total fund raise value to ₹372 crore.
The preferential issue will involve 18 non-promoter investors, including Ashish Kacholia, Whiteoak Capital Fund, Tata Business Cycle Fund, Tata Multicap Fund, Kotak Mahindra Life Insurance Company, Ashoka Whiteoak ICAV – Ashoka Whiteoak India Opportunities Fund, India Accorn Fund, Whiteoak Capital India Opportunities Fund, among others.
The Tata Multicap Fund has been issued 89,820 equity shares worth ₹15 crore, while allottee Ashish Kacholia has been issued for 1.79 lakh equity shares up to ₹30 crore. Kitara PIIN 2401 has been issued the highest number of shares, up to 2.99 lakh equity shares worth ₹50 crore.
Prior to the preferential issue, as on September 11, 2026, promoter entities held 48.41% stake in the company whole public shareholding comprised 51.59%. Post the issue, promoter entities will hold 43.71% stake and public shareholders will hold 56.29% stake in the company.
Shares of Venus Pipes & Tubes gained as much as 8% to hit an intraday high of ₹2,095 on Thursday. The stock is currently trading 6.4% higher at ₹2,062, and has extended its year-to-date advance to nearly 80%. The stock has gained nearly 30% so far in the last one month.
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