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Apollo Tyres raises Rs 450 cr via NCDs

Press Trust of India  |  New Delhi 

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.)

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First Published: Wed, May 31 2017. 17:13 IST
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