Warburg Pincus is going to invest Rs 1,080 crore (around $150 million) in Apollo Tyres. The company's board has approved an issuance of compulsorily convertible preference shares in the company worth Rs 1,080 crore to an affiliate of Warburg Pincus.
The investment represents a primary capital infusion into the company and is subject to shareholder and regulatory approvals.
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.
