Apollo Pipes Limited has informed the Exchange about further acquisition of share in subsidiary through secondary purchase.
APOLLOPIPE · price
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Apollo Pipes Limited has bought an additional 3.34% equity stake in its subsidiary Kisan Mouldings Limited (KML) through a secondary purchase for about Rs. 9.8 Crores in cash. This takes the company's holding in KML from 58.60% to 61.94%, strengthening its control over the PVC pipes and fittings business. KML had a turnover of Rs. 273.35 Crores in FY25 and has been in operation since 1989. The transaction is not a related-party deal and promoters have no interest in the acquired stake. Apollo Pipes has described the move as a strategic investment in its existing subsidiary.
Minor stake build-up (3.34%) in an existing subsidiary at a modest cost; unlikely to materially move the stock but signals management's confidence in consolidating its PVC pipes subsidiary.