The board of directors of Apollo Tyres Ltd. ("Company") at its meeting held on February 26, 2020, has considered and approved an investment agreement ("Investment Agreement") proposed to be executed between Emerald Sage Investment Ltd, certain specified persons belonging to the promoter and promoter group of the Company, and the Company. The Company has executed the aforesaid Investment Agreement.
The agreement envisages preferential allotment of upto 10,80,00,000 - Cumulative, Participating, and Compulsorily Convertible Preference Shares ('CCPS') of face value of Rs. 100/- each, for an aggregate amount of upto Rs. 1080,00,00,000 (Rupees One Thousand and Eighty Crores Only).
Shares of APOLLO TYRES LTD. was last trading in BSE at Rs.148.85 as compared to the previous close of Rs. 154.4. The total number of shares traded during the day was 410289 in over 3629 trades.
The stock hit an intraday high of Rs. 158.1 and intraday low of 146.1. The net turnover during the day was Rs. 62016751.