Apollo Pipes Limited — QIP/Rights/Pref., 27-01-2025: Preferential issue

Apollo Pipes Limited has announced a board meeting to discuss a preferential issue, approving the allotment of up to 20,00,000 Fully Convertible Warrants at an issue price of ₹550 each, totaling up to ₹110 crore. These Warrants can be converted into an equal number of equity shares within 18 months of allotment. The proceeds will be raised from non-promoter investors, specifically M/s. Kitara PIIN 2401. The company also approved the unaudited financial results for the quarter and half-year, reporting a revenue from operations of ₹24,463.53 lakh.