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Apollo Tyres has raised Rs 325 crore through private placement of redeemable non-convertible debentures (NCDs).
The company has said in a BSE filing that the committee of directors-NCDs at its meeting said that it has allotted NCDs on a private placement basis aggregating to Rs 325 crore.
It further said that the present issue is for allotment of 3,250 NCDs of face value of Rs 10 lakh aggregating Rs 325 crore and is proposed to be listed on the National Stock Exchange of India.
The company has added that the interest payable is 8.65 percent per annum if in case of delay in payment of interest/principal amount for a period of more than three months from the due date the penal interest will be 2 percent per annum.
