Apollo Tyres on Thursday said it has raised Rs 500 crore via allotment of non-convertible debentures (NCDs) through private placement.
The present issue is for allotment of 5,000 NCDs of face value of Rs 10,00,000 each aggregating to Rs 500 crore, Apollo Tyres said in a regulatory filing.
The date of allotment is April 9, 2020 while the same for maturity is April 9, 2030 and the interest rate is at 8.75 per cent per annum, the company said, adding penal interest for delay of payment is pegged at 2 per cent per annum.
The company, however, did not disclose to whom the private placement of NCDs has been made.
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