The steel tubes and pipe manufacturer-APL Apollo Tubes Limited at its meeting held recently, has considered and approved a draft scheme of amalgamation of Shri Lakshmi Metal Udyog Limited and Apollo Tricoat Tubes Limited with the Company and their respective shareholders and creditors.“The scheme of amalgamation will involve splitting up of one share of Shri Lakshmi Metal of the face value of INR 10 into five shares of the face value of INR 2”,stated the Chief Strategic Officer, Anubhav Gupta, APL Apollo Tubes in an investors call on 1st Mar ’21. The appointed date for the merger has been set as April 1, 2021, and is expected to be completed by Q3 FY ’22.
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