Apollo Pipes buys 76% of Mazzini Tiles for ₹40 crore
In short
Apollo Pipes said it is entering the tiles business by buying 76% of Mazzini Tiles for ₹40 crore. The company’s shares ended at ₹538.65, up ₹13.20, or 2.51%, on the BSE.
The deal shows Apollo Pipes is moving beyond its core pipe business. The report does not say when the purchase will close or what changes come next.
What the reporting says
Apollo Pipes entered the tiles business by buying a 76% stake in Mazzini Tiles for ₹40 crore. The reported deal points to a diversification move by the company, while market data in the story says Apollo Pipes shares ended at ₹538.65, up ₹13.20 or 2.51% on the BSE. The reporting does not state whether the acquisition has closed or what integration plans follow.
Why it matters
Apollo Pipes is entering the tiles business through a 76% stake purchase in Mazzini Tiles for ₹40 crore. The source also says Apollo Pipes shares closed at ₹538.65, up 2.51% on the BSE. The reporting does not state whether the transaction has completed, so the operational and financial impact remains uncertain despite the positive market reaction.