Apollo Tyres raises Rs 300 crore via NCDs

NEW DELHI: Apollo Tyres on Friday said it has raised Rs 300 crore by issuing non convertible debentures (NCDs) on a private placement basis.

At a meeting held, the committee of directors-NCDs has allotted non convertible debentures (NCDs) on a private placement basis aggregating to Rs 300 crore, Apollo Tyres said in a regulatory filing.

Present issue is for allotment of 3,000 NCDs of face value of Rs 10,00,000 each aggregating to Rs 300 crore, it added.

The company however did not share further details.

Shares of Apollo Tyres ended 0.24 per cent up at Rs 213.10 apiece on BSE.