Venus Pipes & Tubes has convened an Extraordinary General Meeting (EGM) on October 8, 2026 at 3:00 pm to seek shareholder approval for a preferential issue of up to 22,27,544 equity shares at ₹1,670 per share, raising up to ₹372 crore from 18 non-promoter investors.

The Board of Directors approved the preferential issue on September 16, 2026. The issue price comprises a face value of ₹10 and a securities premium of ₹1,660 per share. The relevant date for determining the floor price is September 8, 2026, being 30 days prior to the EGM. In accordance with Regulation 164(1) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the floor price was determined at ₹1,669.37 per share, being the higher of the 90-day volume weighted average price of ₹1,610.44 and the 10-day volume weighted average price of ₹1,669.37 on NSE, which recorded the highest trading volume. The EGM will be held via video conferencing and other audio-visual means, with remote e-voting available from October 4, 2026 at 9:00 am to October 7, 2026 at 5:00 pm. The cut-off date for voting eligibility is October 1, 2026. Inga Ventures Private Limited is acting as advisor for the transaction.

Use of proceeds

The company intends to utilise the ₹372 crore raised through the preferential issue primarily for debt reduction and general corporate purposes. The allocation is as follows:

Pending utilisation, the company may temporarily invest the proceeds in scheduled commercial banks, government securities, money market instruments, or other permitted instruments. Since the issue size exceeds ₹100 crore, CARE Ratings Limited has been appointed as the monitoring agency under Regulation 162A of the SEBI ICDR Regulations to monitor the use of proceeds on a quarterly basis.

Investor participation

All 18 allottees are non-promoter/public category investors. Key participants include funds managed by Ashoka WhiteOak, WhiteOak Capital, Carnelian, Tata Mutual Fund, Kitara Piin 2401, Bengal Finance and Investment Pvt Ltd, Ashish Kacholia, and Kotak Mahindra Life Insurance Company Ltd. The complete allotment schedule is as follows:

None of the directors, promoters, key managerial personnel, or senior management of the company will subscribe to the proposed issue. The preferential issue will not result in a change in control of the company, and no proposed allottee will hold more than 5% of the post-issue fully diluted share capital.

Shareholding pattern impact

Post-allotment, the promoter group's stake will dilute from 48.41% to 43.71%, while public holding will rise from 51.59% to 56.29%. Total equity shares outstanding will increase from 2,07,16,110 to 2,29,43,654.

Regulatory and compliance framework

The preferential issue is being undertaken under Sections 23, 42, and 62(1)(c) of the Companies Act, 2013, read with the SEBI ICDR Regulations. Equity shares allotted will be fully paid up, rank pari-passu with existing shares in all respects including dividend and voting rights, and will be allotted in dematerialised form within 15 days of passing of the special resolution or receipt of regulatory approvals, whichever is later. The shares will be subject to lock-in as specified under Chapter V of the SEBI ICDR Regulations. The company has confirmed that neither it nor its promoters or directors have been declared wilful defaulters or fraudulent borrowers. In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for designated persons remains closed until 48 hours after the conclusion of the Board Meeting held on September 16, 2026.

Venus Pipes & Tubes approved the re-appointment of key managerial and independent directors at its Annual General Meeting (AGM).

Director re-appointments approved at AGM

The company re-appointed Arun Kothari as Managing Director and Megharam Choudhary and Dhruv Patel as Whole-Time Directors, each for a term of 5 years. Four independent directors were also re-appointed for their second terms.

The following table summarises the re-appointments approved at the AGM:

Key highlights of the AGM resolutions

• Arun Kothari, Megharam Choudhary, and Dhruv Patel were each re-appointed for a period of 5 years.
• Independent directors Kailash Bhandari, Shyam Agrawal, Pranay Surana, and Komal Khadaria were re-appointed for their respective second terms.