Apollo Pipes board approves amalgamation of Kisan Mouldings

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AI summary

Apollo Pipes board approved a Scheme of Arrangement to amalgamate Kisan Mouldings (KML) and its wholly-owned subsidiary KML Tradelinks into APL in two stages. Appointed date April 1, 2026. Exchange ratio: 4.96 APL shares per 100 KML shares. KML turnover Rs 250 Cr vs APL Rs 887 Cr. Post-merger, APL promoter stake drops from 51.72% to 49.20%, public rises to 50.52%. Subject to NCLT, SEBI, shareholder approvals.

Likely market impact

APL absorbing Kisan Mouldings expands PVC product portfolio. Promoter stake drops to 49.20%, share count rises. Pending regulatory approvals.