Apollo Tyres today raised Rs 450 crore through private placement of non-convertible debentures (NCDs).
The company's board, which met today, allotted 4,500 NCDs of face value Rs 10 lakh on a private placement basis, Apollo Tyres said in a regulatory filing.
Apollo Tyres has lined up Rs 2,500 crore capex for the current fiscal as it eyes a double-digit volume growth.
The company, which recently commissioned its new manufacturing plant in Hungary, expects construction activity to commence at its new plant in Andhra Pradesh in the second half of the current year.
Apollo Tyres shares today ended marginally down at Rs 228.40 per scrip on BSE.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.