PE firm Warburg Pincus planning to invest $150 mn in Apollo Tyres

The Board of Directors of Apollo Tyres Ltd approved the issuance of compulsorily convertible preference shares in the company

Private Equity firm Warburg Pincus is planning to invest around $150 million in Apollo Tyres.The investment represents a primary capital infusion into the company and is subject to shareholder and regulatory approvals

The Board of Directors of Apollo Tyres Ltd on Wednesday approved an issuance of compulsorily convertible preference shares in the company worth approximately $150 million to an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing. 

Onkar S Kanwar, Chairman and Managing Director, Apollo Tyres Ltd said, that Warburg Pincus’ investment in Apollo Tyres is a strong vote of confidence in our business,