Gujarat Apollo Industries’ material subsidiary -- AEML Investments (formerly known as Apollo Earthmovers) (AEML) has further subscribed 25,000 equity shares at a consideration of Rs 82,50,000 and have constituted 50% of the issued and paid up share capital of Krishitek Industries (KIPL).
In August 2021, AEML had entered into a Share Subscription Agreement for subscribing upto 50,000 equity shares of a face value of Rs 10 in a phased manner. The Subscription’ money invested by AEML will be used by KIPL for development of their products and manufacturing activities.
Gujarat Apollo Industries is primarily engaged in the manufacturing of different types of Mining & Road Construction and Maintenance Machineries catering to the needs of the majority of the mining companies in India and many parts of the world.
