Apollo Pipes Limited — Others, 28-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

Apollo Pipes Limited has announced a board meeting on January 27, 2025, to review the Statement of Deviation or Variation and the Monitoring Agency Report regarding the use of proceeds from the preferential issue of convertible warrants, which total Rs. 259.60 crore. According to the report from CARE Ratings, there have been no deviations from the intended use of funds, affirming that the funds have been utilized as disclosed.

This update suggests a stable financial position for Apollo Pipes, instilling confidence among investors about the effective management of funds raised. Overall, this news indicates a positive outlook, as it reflects adherence to strategic objectives and efficient capital deployment.