Warburg Pincus, a US-based private equity firm, has sold 4.25% stake in Apollo Tyres through an open market transaction worth around Rs 1174.94 crore. Warburg Pincus, through its arm -- Emerald Sage Investment, has offloaded over 2.70 crore equity shares of the company at an average price of Rs 435 apiece.
Meanwhile, ICICI Prudential Mutual Fund bought around 1.91 crore shares for Rs 829.98 crore, while SBI Life Insurance Company bought around 56.32 lakh shares for Rs 244.99 crore. The shares were bought at the same price.
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.
