Venus Pipes Share Price Today: Venus Pipes shares were buzzing in Thursday's trade after the company raised Rs 371 crore through a preferential allotment, with several marquee investors participating in the issue.
The stock rose as much as 3.21% to hit an intraday high of Rs 2,002.55 per share on the BSE. At 9:49 am, Venus Pipes share price was trading 1.79% higher at Rs 1,974.90. In comparison, the BSE Sensex was trading 0.11% higher at 74,421 levels.
Venus Pipes Fundraise
Venus Pipes raised Rs 371 crore through the preferential allotment at Rs 1,670 per share. The company issued 22.27 lakh shares as part of the fundraise.
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The fundraising saw participation from several prominent institutional and high-profile investors.
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Prashant Khemka-backed WhiteOak Capital invested around Rs 152 crore through multiple funds, while alternative asset manager Kitara Capital invested Rs 50 crore.
Vikas Khemani's Carnelian Capital invested Rs 50 crore through two schemes, while investor Ashish Kacholia subscribed to shares worth around Rs 30 crore.
Other investors participating in the preferential issue included Tata Mutual Fund, which invested Rs 30 crore, Bengal Finance and Investment with Rs 30 crore and Kotak Mahindra Life Insurance with Rs 20 crore.
Venus Pipes Growth Outlook
The fundraise comes as Venus Pipes continues to target strong growth. The management has maintained its guidance for more than 20% revenue growth in FY27 and expects revenue to double by FY30.
The company has also announced its entry into the spooling solutions segment, backed by a planned capex of Rs 70 crore.
At the end of Q1 FY27, Venus Pipes had net debt of Rs 325 crore. The company has guided for total FY27 capex of around Rs 100 crore.
The combination of the preferential fundraise, marquee investor participation and continued expansion plans is likely to remain in focus for investors as the stock trades near the Rs 2,000 mark.
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