Venus Pipes & Tubes Ltd Issues Corrigendum for EGM Notice on Preferential Issue

Venus Pipes & Tubes Ltd has issued a corrigendum to the notice of its Extra Ordinary General Meeting (EGM) scheduled for October 8, 2026. This amendment clarifies details regarding a proposed preferential issue of up to 22,27,544 equity shares at ₹1,670 per share, aggregating up to ₹3,719.99 crore. The clarifications, prompted by observations from the National Stock Exchange (NSE), primarily concern the utilization of issue proceeds. Specifically, the objects now detail the repayment/prepayment of certain bank borrowings amounting to ₹344.00 crore, including term and working capital loans, to reduce debt and servicing costs. A note regarding the deletion of a specific sub-heading under 'Utilization of Issue Proceeds' has also been made.