Apollo Pipes acquires 54% in PVC Pipes maker Kisan Mouldings for Rs.118-Cr

Press Release   Kisan Mouldings Ltd  

Noida-based Apollo Pipes Ltd, part of the APL Apollo group, has acquired a 53.57% stake in fellow publicly listed, Mumbai-based PVC pipes and fittings maker Kisan Mouldings Ltd (KML) for INR 118.40 crore. KML, a distressed company which has now made a One Time Settlement (OTS) with its lenders, had reported revenue (on consolidated basis) of INR 272. 99 crore for FY23. The deal will be effected through KML making a preferential issue of 6,40,00,000 equity shares (face value of INR 10 each), priced at INR 18.50 per share to the acquirer. Singhi Advisors were financial advisors to APL Apollo on the transaction.

Want to receive such news items in your inbox? Click Here to sign up for a trial.

2021 © TSJ Media Pvt Ltd. All rights reserved.