OTHER GROUP COMPANIES

Apollo Tyres raises Rs 500 crore through NCDs

The meeting of the “Committee of Directors‐ NCDs” commenced at 11:30 AM and concluded at 11:50 AM on Tuesday.

September 14, 2022 10:11 IST | India Infoline News Service
Apollo Tyres Limited has informed that the Committee of Directors - NCDs at its meeting held on September 13, 2022, has allotted Non-Convertible Debentures (NCDs) on a Private Placement basis aggregating to Rs500 crore.

The meeting of the “Committee of Directors‐ NCDs” commenced at 11:30 AM and concluded at 11:50 AM on Tuesday.

According to the regulatory filing, the details of the Total number of securities proposed to be issued are:

Option I Present issue is for Allotment of 2,500 NCDs of face value of Rs 10,00,000 each aggregating to Rs250 crore and 
Option II Present issue is for Allotment of 2,500 NCDs of face value of Rs 10,00,000 each aggregating to Rs250 crore.

Further, the proposed securities are to be listed in National Stock Exchange of India (NSE).

The date of maturity for Option I is December 13, 2023 and Option II September 13, 2027.

In adddition to this, the manner of redemption will be Bullet repayment on redemption. There is no premium or discount on either issue price or on redemption value of the debentures, the effective yield for the investors held to maturity shall be the same as the coupon rate on the debentures.

At around 10:15 AM, Apollo Tyres Ltd is currently trading at Rs277 per share down by Rs2.4 or 0.86% from its previous closing of Rs279.40 per share on the BSE.

For feedback and suggestions, write to us at editorial@iifl.com

Invest wise with Expert advice

FEATURED ARTICLE

BLOGS

Open Demat Account

Invest wise with Expert advice

By continuing, I accept the Terms & Conditions and agree to receive updates on Whatsapp