Apollo Tyres to raise Rs 2.5 bn

The tyre maker calls off a rights-cum-follow-on share issue and says it will raise the sum by placing shares with qualified institutional buyers.

Published on: Sep 4, 2006, 16:47:00 IST

None | By Anonymous, Mumbai

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Apollo Tyres Ltd on Monday called off a rights-cum-follow-on share issue and said it would instead raise Rs 2.5 billion from qualified institutional buyers.

The company had deferred the rights issue in July.

Shares in the company rose 3.9 per cent to Rs 316 in a firm Mumbai market.

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