Apollo Tyres has raised Rs 325 crore through private placement of redeemable Non-Convertible Debentures (NCDs). The committee of directors-NCDs at its meeting held on May 30, 2016 has allotted NCDs on a private placement basis aggregating to Rs 325 crore. The committee has made allotment of 3,250 NCDs of face value of Rs 10 lakh and is proposed to be listed on the National Stock Exchange of India (NSE).
The interest payable will be 8.65 percent per annum. In case of delay in payment of interest/principal amount for a period of more than three months from the due date the penal interest will be 2 percent per annum.
Apollo Tyres is one of the leading tyre manufacturers in India with its product portfolio spread across tubeless and tube type tyres for cars, suvs, trucks, buses etc.
