Apollo Pipes Approves ₹189 Cr Preferential Issue & New Subsidiary

Apollo Pipes Limited's Board of Directors approved a preferential issue of up to 31,00,000 warrants convertible into equity shares at ₹610 each, aggregating up to ₹189.10 crores. The funds will be raised from non-promoter category investors. Additionally, the company approved an investment plan of up to ₹300 crores to set up subsidiary(ies) for entering the tiles and ceramics business, including potential acquisitions of operational businesses. The authorized share capital will also be increased to ₹60 crores to accommodate the equity shares upon warrant conversion. The board meeting took place on August 31, 2026.