Apollo Tyres raises Rs1,500 cr via qual­i­fied in­sti­tu­tional place­ment

Mint ST - - CORPORATE -

New Delhi: Apollo Tyres Ltd on Thurs­day said it has raised up to $229 mil­lion (around Rs1,500 crore) via is­sue of shares to qual­i­fied in­sti­tu­tional buy­ers (QIBS). The com­pany’s com­mit­tee of di­rec­tors (funds rais­ing) has de­clared the clo­sure of its eq­uity share is­suance to QIBS to raise up to $229 mil­lion, Apollo Tyres said in a state­ment. The tyre maker has al­lot­ted 63,025,210 eq­uity shares to QIBS at Rs238 per share, it added. PTI

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