Apollo Pipes Approves ₹300 Cr Investment in Tiles Business & ₹189 Cr Preferential Issue

Apollo Pipes Limited announced today, August 31, 2026, that its Board of Directors has approved a significant investment plan of up to ₹300 crores for establishing a subsidiary or subsidiaries to enter the tiles and ceramics business. This new venture will focus on manufacturing, contract manufacturing, trading, marketing, and distribution of tiles, ceramics, and allied products, potentially including acquisitions of operational businesses.

Furthermore, the company has approved a preferential issue of up to 31,00,000 warrants, convertible into equity shares, at a price of ₹610 per warrant. This issuance is expected to raise approximately ₹189.10 crores and will be offered to identified persons belonging to the 'Non-Promoter' category. The approval is subject to shareholder and regulatory clearances. To accommodate the equity shares upon warrant conversion, the company also proposed an increase in its authorized share capital from ₹50 crores to ₹60 crores.

The Board meeting, which commenced at 12:15 P.M. and concluded at 02:10 P.M., delegated authority to the Managing Director and Joint Managing Director for executing the subsidiary incorporation and investment decisions. The warrants are convertible within a maximum of 18 months from the allotment date into equity shares of ₹10 face value each.