Apollo Tyres has raised Rs 450 crore through private placement of non-convertible debentures (NCDs).
The company’s board, which met today, allotted 4,500 NCDs of face value Rs 10 lakh on a private placement basis, Apollo Tyres said in a regulatory filing.
Apollo Tyres has lined up Rs 2,500-crore capex for the current fiscal as it eyes a double-digit volume growth.
The company, which recently commissioned its new manufacturing plant in Hungary , expects construction activity to commence at its new plant in Andhra Pradesh in the second half of the current year.
Apollo Tyres shares ended marginally down at Rs 228.40 per scrip on the BSE.