Apollo Pipes has approved the issuance of 31 lakh warrants at a price of ₹610 each, amounting to a total raise of ₹189.10 crore. This decision finalizes the capital raising mode previously indicated by the company.

The Board of Directors had scheduled a meeting for August 31, 2026, to consider proposals for raising capital through equity shares or convertible securities. The earlier intimation stated that the fundraising could occur via a preferential issue, rights issue, qualified institutional placement (QIP), or any other mode determined by the Board.

Fundraising Details

The approved instrument is warrants, priced at ₹610 per unit. The total quantum of the issuance stands at 31 lakh units. The aggregate value of this transaction is ₹189.10 crore. This move is subject to necessary regulatory approvals.

Regulatory Compliance

The initial intimation was issued in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on August 25, 2026, by Gourab Kumar Nayak, Company Secretary and Compliance Officer.

Apollo Pipes has approved an investment of up to ₹300 crore to expand into tiles, ceramics, and related products through the formation of new subsidiaries.

Expansion into tiles and ceramics

The company's board approved the move to diversify its business portfolio by entering the tiles and ceramics segment. The expansion will be executed through newly incorporated subsidiaries dedicated to the tiles, ceramics, and related products business.

Key details of the investment

The decision reflects Apollo Pipes' intent to broaden its presence beyond its core pipes business into adjacent building materials categories. The use of new subsidiaries as the vehicle for this expansion indicates a structured approach to managing the new business lines separately from its existing operations.