Apollo Pipes acquires Mazzini Tiles for ₹40.42 crore
after close1 source ↓written by the desknot a recommendation
- in Mazzini Tiles
- 76% stake
- Tiles LLP
- ₹40.42 crore
- aimed at expanding
- ₹300 crore
Apollo Pipes Limited has entered the tiles and ceramics market by acquiring a 76% stake in Mazzini Tiles LLP for ₹40.42 crore. This acquisition, executed through its subsidiary Apollo Ceramics Limited, aligns with its strategy to enhance its presence in the building materials sector.
The move is part of a broader investment plan of up to ₹300 crore aimed at expanding the company's tiles and ceramics platform, potentially boosting future revenue streams.
Not investment advice. For informational purposes only.