MoneyWorks4Me

Apollo Tyres raises Rs 540 crore through preferential allotment

22 Apr 2020 Evaluate

Apollo Tyres has raised Rs 540 crore and allotted 5,40,00,000, 6.34% compulsorily convertible preference shares (CCPS) having face value of Rs 100 each (Tranche 1 CCPS), at par by way of preferential allotment on a private placement basis to Emerald Sage Investment.

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.

Peers
Company Name CMP
MRF 125528.60
Apollo Tyres 411.80
JK Tyres & Inds. 349.55
Ceat 3468.20
Balkrishna Inds. 2267.75
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