Apollo Tyres to raise Rs 1,000 cr via NCDs

Apollo Tyres on Friday said it will raise up to Rs 1,000 crore through issuance of securities on a private placement basis.

"The company's board at its meeting held today, considered and approved the issue of non-convertible debentures (NCDs) on a private placement basis aggregating to Rs 1,000 crore," Apollo Tyres said in a regulatory filing.

The tyre maker, however, did not disclose the reasons for raising the capital.