M&A

M&A

Apollo Ceramics acquires 76% stake in Mazzini Tiles for Rs.40-Cr

BSE Announcement   Business Standard  

Apollo Ceramics, a subsidiary of Noida-based publicly listed Apollo Pipes, has acquired a 76% stake and profit-sharing rights in Morbi, Gujarat-based Mazzini Tiles for INR 40.42 crore. Singhi Advisors acted as exclusive M&A advisors for this transaction.Mazzini Tiles sells tiles and ceramic products, specialising in polished glazed vitrified tiles (PGVT). The company has an installed capacity of 72 lakh square metres per annum and recorded a turnover of INR 87.15 crore in FY26.Apollo Pipes intends to use the new investment to integrate its building-material distribution network with the manufacturing capabilities and PGVT portfolio of Mazzini Tiles.