Apollo Pipes approves ₹300 Cr expansion into tiles/ceramics, ₹189 Cr preferential issue

Apollo Pipes Limited's Board of Directors, in a meeting held on August 31, 2026, approved a significant strategic expansion into the tiles and ceramics business. The company plans to set up a subsidiary or subsidiaries for this venture, with an investment plan of up to ₹300 crores. These subsidiaries will be engaged in the manufacturing, contract manufacturing, trading, marketing, and distribution of tiles, ceramics, and allied products, potentially through the acquisition of existing operational businesses.

Mr. Sameer Gupta, Managing Director, and Mr. Arun Agarwal, Joint Managing Director, have been delegated the authority to oversee the incorporation of these subsidiaries and the investment process.

In a move to fund its growth, the Board also approved a preferential issue of up to 31,00,000 warrants, each convertible into one fully paid-up equity share of ₹10 face value. These warrants will be issued at a price of ₹610 each (including a premium of ₹600), aggregating up to ₹189.10 crores (₹189 crore 10 lakh). The issuance is targeted at identified persons belonging to the 'Non-Promoter' category and is subject to shareholder and regulatory approvals. The warrants are convertible within a maximum period of 18 months from their allotment date.

To facilitate the equity share allotment upon conversion of these warrants, the company also approved an increase in its authorized share capital from ₹50 crores to ₹60 crores, comprising 6,00,00,000 equity shares of ₹10 each. This will also involve an alteration of the company's Memorandum of Association, subject to member approval.

The Board meeting commenced at 12:15 PM and concluded at 02:10 PM.