APL Apollo not looking to buy out Shankara Building entirely, says MD
APL Apollo Tubes has picked up almost 10 percent stake in the Shankara Building Products. It is a fairly win-win situation, said Sukumar Srinivas, MD, Shankara Building Products in an interview with CNBC-TV18.
APL Apollo Tubes has picked up almost 10 percent stake in the Shankara Building Products.
APL Apollo is not going to buy Shankara Building entirely, said Sukumar Srinivas, MD, Shankara Building Products in an interview with CNBC-TV18.
Also Read:
The company has partnered with APL. APL has bought around 4.5 percent stake via the open market route at Rs 755 per share and Shankara has allotted over 5 percent stake via warrants to the APL Apollo.
According to Srinivas, it is a fairly win-win situation.
“We will be leveraging on some of their strengths and they will be using our platform of large retail network and distribution platform that is available in south India,” he explained.
Watch the accompanying video for more details.
Catch all stock market updates here
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM