Apollo Pipes Limited issued a corrigendum to its Postal Ballot Notice dated August 31, 2026. The corrigendum was issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and was addressed to The National Stock Exchange of India Limited and BSE Limited.

The purpose of the corrigendum is to amend the Explanatory Statement pertaining to Item No. 2 of the Postal Ballot Notice, which relates to a proposed preferential issue of Fully Convertible Warrants.

Key Amendments to Explanatory Statement

Objects of the Preferential Issue:

The company clarified that the proceeds from the issue will be utilized for "Investment in the proposed subsidiary(ies) to be incorporated for undertaking the tiles and ceramics business by way of subscription and/or acquisition of equity shares of such subsidiary(ies)." The specific object is to raise funds for diversifying into the tiles and ceramics business and allied activities through an investment of up to ₹189,10,00,000/- (Rupees One Hundred Eighty Nine Crore Ten Lakh Only). This diversification is part of the company's long-term growth strategy to expand into complementary building material categories.

Utilization of Gross Proceeds:

A detailed table was provided showing the intended utilization of funds:

  • Particulars: Investment in proposed subsidiary(ies) for tiles and ceramics business
  • Total estimated amount to be utilized: ₹189.10 Crores
  • Tentative timelines for utilization: Latest by October 2028

The entire gross proceeds of up to ₹189.10 crore (assuming 100% conversion of warrants) are proposed for this investment. The actual amount available will depend on the extent and timing of warrant conversion by the warrant holders.

Shareholding Pattern Changes:

The corrigendum provides a detailed pre- and post-issue shareholding pattern:

  • Pre-issue paid-up equity share capital: 4,40,48,206 Equity Shares of ₹10 each (as of August 28, 2026)
  • Post-issue share capital (fully diluted): 4,91,48,206 Equity Shares of ₹10 each (assuming conversion of 20,00,000 existing outstanding warrants and 31,00,000 new warrants)

Promoter shareholding will decrease from 55.46% to 49.71% post-issue. Specifically:

  • Indian Individuals & HUF: from 49.56% to 44.42%
  • Bodies Corporate: from 5.90% to 5.29%

Public shareholding will increase from 44.28% to 50.06%, with specific changes in:

  • Body Corporate category: from 4.70% to 10.73% (receiving 20,00,000 existing warrants and 12,00,000 new warrants)
  • Individuals category: from 27.29% to 28.33% (receiving 19,00,000 new warrants)

Additional Information

The corrigendum forms an integral part of the original Postal Ballot Notice and has been sent electronically to all members. It is also available on the company's website (www.apollopipes.com) and the websites of NSE (www.nseindia.com) and BSE (www.bseindia.com).

The company confirmed that its main Object Clause in the Memorandum of Association enables it to undertake these new activities.