Cash torrent

Sameer Gupta of Apollo Pipes ushers in the New Year by selling equity worth ₹100 crore

The New Year has definitely begun on a great note for the promoters of Apollo Pipes, a leading PVC pipe manufacturer. In fact, 2017 was not bad either with the stock doubling from Rs.300 to Rs.600.  As 2017 was fading out, managing director Sameer Gupta sold 1.76 million shares to bank Rs.98.2 crore and the rest of the promoter family also followed in early 2018 selling equity worth Rs.127.3 crore. Essentially, of the current market cap of Rs.740 crore, about Rs.225 crore of promoter holding moved to private investors in a bulk deal.