Apollo Pipes Initiates Postal Ballot for Key Board Appointments and Capital Expansion

Noida, January 28, 2025 – Apollo Pipes Limited (NSE: APOLLOPIPE, BSE: 531761) has announced a postal ballot process to seek shareholder approval on five key resolutions, including the reappointment of Chairman & MD Sameer Gupta, revision of Remuneration for senior management, and an increase in authorized share capital. The voting process began on January 28, 2025, and will conclude on February 26, 2025.

Key Resolutions for Shareholder Approval​

1. Reappointment of Sameer Gupta as Chairman & MD
   • Tenure: April 1, 2025 – March 31, 2030.
   • Board Experience: Third consecutive appointment.
2. Reappointment of Abhilash Lal as Independent Director
   • Tenure: March 22, 2025 – March 21, 2030.
   • Governance Role: Strengthens independent oversight.
3. Revision in Remuneration for Joint Managing Director Arun Agarwal
   • New Remuneration: ₹1.25 crore per annum.
   • Tenure: March 14, 2023 – March 13, 2026.
4. Increase in Authorized Share Capital & Amendment to Memorandum of Association (MoA)
   • Expanding capital base to support growth and funding initiatives.
5. Preferential Issue of Fully Convertible Warrants to Non-Promoter Investors
   • Strengthening capital structure for future business expansion.

Strategic Significance​

• Corporate Governance Stability: Ensuring continuity in leadership and independent oversight.
• Capital Expansion for Growth: Strengthening the company’s financial position to support expansion initiatives.
• Enhanced Investor Confidence: Structured capital infusion through preferential warrants.

Voting & Next Steps​

• Voting Period: January 28 – February 26, 2025.
• Final Results: Expected by February 27, 2025.

With this postal ballot, Apollo Pipes aims to fortify its leadership team, optimize capital structure, and sustain its long-term growth trajectory.