APL Apollo Tubes Limited has approved the disinvestment of its entire shareholding in Blue Ocean Projects Private Limited (BOPPL), a wholly owned subsidiary, for an aggregate consideration of Rs 160 crore. The board approved the proposal at its meeting held on June 27, 2026.
BOPPL, a wholly owned subsidiary of APL Apollo Tubes Limited, holds real estate assets. The proposed buyer is SG Realtor Private Limited, which is engaged in the real estate business. Promoters of APL Apollo Tubes Limited, together with their immediate relatives, hold more than 20% of the equity share capital of SG Realtor Private Limited, making the transaction a related party transaction.
For the financial year ended March 31, 2026, BOPPL reported turnover of Rs 14.91 crore, representing 0.06% of APL Apollo's consolidated turnover. Total income stood at Rs 17.16 crore, or 0.07% of consolidated total income. The subsidiary's net worth was Rs 139.09 crore, accounting for 2.63% of the consolidated net worth.
The consideration was determined based on a valuation report from an independent registered valuer. APL Apollo Tubes Limited will enter into a share sale agreement with SG Realtor Private Limited on or before December 31, 2026. The proposed transaction is expected to be completed by the same date, at which point the consideration of Rs 160 crore will be received.
The board had granted in-principle approval for the disinvestment at its meeting on May 2, 2026.
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