Warburg Pincus Plans To Invest $150 Mn In Apollo Tyres
Warburg Pincus is Planning to put around $150 million in Apollo Tyres. The investment speaks to an essential represents a primary into the organization and is dependent upon investor and administrative endorsements
The Board of Directors of Apollo Tires Ltd on Wednesday affirmed an issuance of obligatorily convertible inclination partakes in the organization worth roughly $150 million to an associate of Warburg Pincus, a main worldwide private value firm centered around development contributing.
Onkar S Kanwar, Chairman and Managing Director, Apollo Tires Ltd stated, that Warburg Pincus' interest in Apollo Tires is a solid demonstration of positive support in our business, supervisory group and development possibilities.
"I accept the organization will profit by the sponsorship of an enormous money related financial specialist of their family and our association will additionally fortify Apollo Tires' board and administration," he said.