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APOLLO TYRES ALLOTS 5.40 CR CCPS TO AFFILIATE OF WARBURG PINCUS

Published on Oct 07, 2020 13:40

Apollo Tyres has allotted 5.40 crore 6.34% compulsorily convertible preference shares (CCPS) having face value of Rs. 100 each (Tranche 2 CCPS), at par, for cash, for an aggregate amount of Rs 540 crore by way of preferential allotment on a private placement basis to Emerald Sage Investment, an affiliate of Warburg Pincus LLC.

With today`s allotment, the cumulative fully diluted ownership of affiliates of private equity funds managed by Warburg Pincus LLC on a converted basis, including the Allottee, as on date is approximately 18%.

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