Venus Pipes, today had a board meeting and issued warrants to promoters and one non-promoter entity with the intention of raising funds to get the company into pipe adjacency – pipe fittings and welded steel-titanium pipes. To that end warrants worth 71.4 Cr. convertible to equity at the base price of Rs. 1700.
Phase 1 – Initiation of fittings capabilities and SS-Titanium welded pipes – To be completed by March 2025
Phase 2 – Capacity expansion of aforementioned capabilities – To be completed by December 2025
Pipe fittings are a natural extension of steel pipes business and SS-Titanium pipes are a specialized breed of pipes suited for critical uses like food processing and high pressure – high temperature use cases like nuclear and super thermal power generation.
Details of warrants issued – https://www.bseindia.com/xml-data/corpfiling/AttachLive/9503491e-1d4e-4d86-91e6-43c55395b7f2.pdf
Media Release – https://www.bseindia.com/xml-data/corpfiling/AttachLive/6403e3cd-72f1-4504-b334-8b2e2695363e.pdf
Revised Investor Presentation – https://www.bseindia.com/xml-data/corpfiling/AttachLive/da54d7df-3c60-47e0-87ac-4e1a5ef43fd2.pdf
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