Apollo Pipes Limited confirmed the completion of dispatching its postal ballot notice to shareholders on September 1, 2026. The company published the intimation in newspapers and notified stock exchanges regarding the regulatory filing.

The firm seeks approval from members via electronic voting for resolutions outlined in the notice dated August 31, 2026. This process adheres to Section 108 and 110 of the Companies Act, 2013, along with SEBI Listing Regulations.

Voting Process Details

Shareholders holding shares as on the cut-off date of August 28, 2026, are eligible to vote. The remote e-voting period commences on Tuesday, September 1, 2026, at 10:00 am and concludes on Wednesday, September 30, 2026, at 5:00 pm.

Central Depository Services (India) Limited (CDSL) serves as the e-voting agency. The voting module will be disabled after the deadline, and votes cast cannot be changed subsequently.

Key Dates and Information

Mr. Jatin Gupta, a Practising Company Secretary, has been appointed as the scrutinizer to ensure a fair and transparent process. Results will be declared within two working days of the voting conclusion.

Shareholder Instructions

Physical copies of the ballot forms are not being dispatched. Shareholders must use the remote e-voting system. Those without registered email addresses are advised to update their details with their Depository Participants or the Registrar and Share Transfer Agent, M/s Beetal Financial and Computer Services Private Limited.

Grievances related to e-voting may be directed to CDSL’s helpdesk.

Apollo Pipes has issued a postal ballot notice seeking shareholder approval for a ₹189.1 crore preferential issue of warrants to fund its strategic entry into the tiles and ceramics business.

The notice, dated August 31, 2026, outlines two key resolutions: increasing the authorised share capital from ₹50 crore to ₹60 crore and approving the allotment of fully convertible warrants to non-promoter investors. The company plans to utilise the proceeds to incorporate subsidiary entities for manufacturing, trading, and distribution in the new segment, with potential acquisitions of operational businesses.

Postal Ballot Details

Shareholders holding equity as on the cut-off date of August 28, 2026, are eligible to vote. The remote e-voting period commences on September 1, 2026, at 10:00 am and concludes on September 30, 2026, at 5:00 pm. The resolutions will be deemed passed on the last date of voting if approved by the requisite majority. Central Depository Services (India) Limited (CDSL) is facilitating the e-voting process.

Capital Raise Structure

The board approved the issuance of up to 31,00,000 warrants at ₹610 each, aggregating to ₹189,10,00,000. Each warrant converts into one equity share of face value ₹10. The conversion period is capped at 18 months from allotment. Unexercised warrants will lapse, and the subscription amount will be forfeited. The authorised share capital increase accommodates these new shares upon conversion.

Investor Allocation

The preferential issue targets eight non-promoter investors. AGDG Enterprises LLP is the largest allottee, receiving warrants convertible into 12,00,000 shares, representing a 2.44% post-issue holding. Rachita Gupta follows with an allocation convertible into 8,00,000 shares (1.63%).

The total post-issue holding for these investors stands at 31,00,000 shares, or 6.31% of the fully diluted capital. None of the promoters or directors intend to subscribe to the offer.

What the Numbers Show

The warrant issue price of ₹610 implies a significant premium over the ₹10 face value, reflecting the market valuation attached to the conversion rights. With the largest investor (AGDG Enterprises) taking a 2.44% stake, the dilution is concentrated among a small group of non-promoter entities rather than dispersed broadly. The ₹300 crore cap for the tiles business exceeds the ₹189.1 crore raised through this specific warrant issue, indicating the company may fund the remainder of the expansion through internal accruals or future financing rounds.