Apollo Pipes acquires majority stake in Kisan Mouldings for ₹118.40 crore

Apollo Pipes Ltd, part of the APL Apollo group, has acquired a 53.57% majority stake in Kisan Mouldings Ltd (KML) for ₹118.40 crore, aiming to bolster its position in the PVC pipes and fittings sector.In an exchange filing on Tuesday, Apollo Pipes said that it secured the stake via a preferential issue of 6,40,00,000 equity shares, priced at ₹18.50 per share with a face value of ₹10 each.