Incorporated on 12 Jun.'93 in Delhi, Apollo Tubes was promoted by Raunaq Singh and his associates. When Rajarathinam gained a controlling interest in Apollo Tubes in Aug.'94, it was renamed Apollo Tubes & Steel Industries. The company manufactures steel tubes -- both black and galvanisied -- with outside diameters ranging from 15 mm to 150 mm. It has an installed capacity of 75,000 tonnes. The tubes find use in construction, water supply and irrigation. It came out with a rights issue in Oct.'93 for a major modernisation programme, replacement of certain machinery and to augment working capital. Besides domestic sales, the company exports to Africa, Srilanka, Maldives, Myanmar and countries in west Asia. The company has a tie-up with Mitsubishi Corporation, Japan, for exports. The company intends to diversify into the manufacture of API pipes, SAW pipes and spiral-welded pipes..