Apollo Pipes Approves ₹300 Crore Tiles Investment And ₹189 Crore Warrant Issue

Board approved investment of up to Rs 300 Cr to establish subsidiaries for entering tiles and ceramics, including manufacturing, trading and potential acquisitions of profitable operating businesses. It also approved up to 31 lakh fully convertible warrants at Rs 610 each, raising up to Rs 189.1 Cr from non-promoter investors, convertible within 18 months, subject to approvals. Authorised share capital will increase from Rs 50 Cr to Rs 60 Cr. This is a new business diversification beyond piping and the first equity-linked fundraise, breaking the company's prior self-funded growth pattern. The proposed subsidiaries could use acquisitions or contract manufacturing to accelerate entry into tiles and ceramics. The warrants could represent 6.31% of post-issue fully diluted equity and introduce dilution. Target businesses, acquisition valuations, deployment timeline, investor-wise subscription details and the funding of the balance investment plan were not disclosed; shareholder and regula