APL Apollo Tubes has approved the disinvestment of its entire shareholding in Blue Ocean Projects Private (BOPPL), a wholly owned subsidiary engaged in holding real estate assets. According to a regulatory filing made on Saturday (June 27), the decision was approved by the company's Board of Directors during a meeting held on June 27, following the recommendation of the Audit Committee. The transaction involves the sale of BOPPL to SG Realtor Private Limited for an aggregate consideration of ₹160 crore. As reported by Angel One News, this approval was granted based on the in-principle approval announced in May this year, with the proposal approved based on the recommendation of the Audit Committee.
As reported by CNBC TV18, the company is expected to enter into a share sale and purchase agreement with SG Realtor Private Limited on or before December 31, 2026. The transaction is also expected to be completed by the same date. The proposed buyer is identified as a related party, with promoters of APL Apollo Tubes, along with their immediate relatives, holding more than 20% of the equity share capital in SG Realtor Private Limited. However, the company stated that the transaction is being conducted at arm's length and that the consideration has been determined based on a valuation report from an independent registered valuer. According to Angel One News, the proposed transaction is expected to be completed by December 31, 2026, with the company receiving the full consideration upon completion.
According to the disclosure, as of March 31, 2026, BOPPL contributed ₹14.91 crore in turnover, representing 0.06% of APL Apollo Tubes' consolidated turnover. The subsidiary reported total income of ₹17.16 crore and had a net worth of ₹139.09 crore, accounting for 2.63% of the company's consolidated net worth. APL Apollo Tubes said the disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the company's shares listed on both the National Stock Exchange of India and BSE.
As of June 25, 2026, APL Apollo Tubes share price was closed at ₹1,793.50 per share, reflecting a decline of 1.79% from the previous trading session. The market reaction comes as investors assess the impact of this significant subsidiary divestment on the company's financial structure and strategic positioning. The transaction represents a significant corporate action that could influence the company's future financial performance and strategic direction.
