Apollo Tyres’ Board of Directors has approved the raising of funds aggregating up to ₹10,000 million through the issue of Non-Convertible Debentures (NCDs). These NCDs will be allotted in one or more tranches via private placement, subject to shareholder approval through a postal ballot. This strategic move aims to enhance the company’s capital structure and support its growth initiatives within the approved borrowing limits.
Apollo Tyres Board Approves Major Fundraising
At its meeting held on November 4, 2026, the Board of Directors of Apollo Tyres Limited considered and approved key strategic decisions, including a significant fundraising initiative. The company will raise funds aggregating up to ₹10,000 million (approximately ₹10,000 crore) through the issuance of Non-Convertible Debentures (NCDs).
Private Placement and Shareholder Approval
The NCDs will be allotted in one or more tranches via private placement. This fundraising is subject to the necessary approval from the shareholders, which will be sought through a postal ballot. The issuance falls within the borrowing limits approved by the shareholders under Section 180(1)(c) of the Companies Act, 2013.
Appointment of Chief Financial Officer
In addition to the fundraising, the Board also approved the appointment of Mr. Ravi Kumar Shingari as the Chief Financial Officer (CFO) of the Company. This appointment, effective November 4, 2026, was based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee. Mr. Shingari brings extensive experience in finance and tax, having previously held senior roles, including Partner at KPMG India.
Financial Results Approved
The Board also reviewed and approved the Un-audited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026. These results, along with the limited review reports and a Certificate of Security Cover, have been submitted to the stock exchanges.
Transparency in Disclosures
The company has committed to providing further details as required by Regulation 30 of the Listing Regulations once finalized by the Board or its Committee. The financial results will be available on the websites of the stock exchanges and the company’s own website, ensuring transparency for all stakeholders.
Source: BSE
