Apollo Pipes Issues Corrigendum to Postal Ballot Notice for Preferential Issue

Apollo Pipes Limited has issued a Corrigendum to its Postal Ballot Notice dated August 31, 2026. This corrigendum amends the Explanatory Statement pertaining to Item No. 2, which concerns a proposed preferential issue of Fully Convertible Warrants. The primary amendment clarifies the objects of the preferential issue, stating that the funds raised will be utilized for investment in proposed subsidiary(ies) to be incorporated for undertaking the tiles and ceramics business. The total estimated amount to be utilized for this purpose is ₹189.10 crore, with a tentative timeline for utilization by October 2028. This diversification into the tiles and ceramics business is part of the company's long-term growth strategy to expand its presence into complementary building material categories. The corrigendum also provides an updated shareholding pattern of the company before and after the proposed preferential issue, assuming full conversion of existing and proposed warrants. The document emphasizes that this corrigendum forms an integral part of the original Postal Ballot Notice and all other terms remain unchanged. The corrigendum is available on the company's website and the websites of the stock exchanges.