Apollo Ceramics buys 76% stake in Mazzini Tiles
In short
Apollo Pipes said its unit Apollo Ceramics bought a 76% controlling stake in Mazzini Tiles for Rs 40.42 crore. The deal also gives profit-sharing rights and is meant to grow its tiles and ceramics business.
The move could help Apollo Pipes expand, and its shares ended at ₹538.65, up 2.51%. The report does not say when the deal will finish or what Mazzini Tiles will contribute.
What the reporting says
Apollo Ceramics acquired a 76% controlling stake and profit-sharing rights in Mazzini Tiles for Rs 40.42 crore to expand its tiles and ceramics business. The purchase was disclosed by Apollo Pipes, and the reporting says the move is meant to widen its presence in the segment. Shares of Apollo Pipes also ended higher at ₹538.65, up ₹13.20 or 2.51%, but the broader integration plans are not stated.
Why it matters
Apollo Pipes announced that its subsidiary Apollo Ceramics acquired a 76% controlling stake and profit-sharing rights in Mazzini Tiles for Rs 40.42 crore. The stated aim is to expand the tiles and ceramics business. The market reaction was positive, with Apollo Pipes shares closing higher, but the reporting does not give integration timing, financing details, or operational targets.