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Apollo Tyres raises Rs450 crore through NCDs

Indian tyre major Apollo Tyres has raised Rs450 crore through private placement of non-convertible debentures (NCDs).

In a filing to the Bombay Stock Exchange, Apollo said that the company’s board allotted 4,500 NCDs of face value Rs. 10 lakh on a private placement basis.

Apollo Tyres has lined up Rs. 2,500-crore capex for the current fiscal as it eyes a double-digit volume growth.

 

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