Warburg Pincus trims Apollo Tyres stake in US$159.6M sale

What's the deal? Warburg Pincus, through its arm Emerald Sage InvestmentDealroom has a profile for this one. Try Dealroom →, sold a 4.25% stake in Apollo TyresDealroom has a profile for this one. Try Dealroom → for US$159.6M via open market transactions on Thursday. The private equity firm offloaded 2,70,10,000 shares of the Gurugram-based tyremaker at an average price of US$5.91 apiece, according to block deal data on the National Stock Exchange (NSE)Dealroom has a profile for this one. Try Dealroom →.

Who's buying? A group of institutional investors picked up the shares at the same price. ICICI Prudential Mutual FundDealroom has a profile for this one. Try Dealroom → led the pack with more than 1.9 crore shares — a 3% stake — for US$112.7M, followed by SBI Life InsuranceDealroom has a profile for this one. Try Dealroom → with US$33.3M and Bajaj Life InsuranceDealroom has a profile for this one. Try Dealroom → with US$13.6M.

Why now? The sale follows a strong quarter for Apollo Tyres. Earlier this month, the company reported consolidated net profit of US$47.4M for the quarter ended June 30, 2026, up sharply from US$1.75M a year earlier, aided by a low base and strong sales across segments.

The year-ago figure included a US$37.1M after-tax hit from restructuring and impairment of its Netherlands plant. Revenue from operations rose to US$1B from US$891M.

By the numbers: After the sale, Emerald Sage's holding in Apollo Tyres fell to 5.68% from 9.93%. Apollo Tyres shares rose marginally to close at US$6.04 on the NSE.

The signal: Warburg Pincus is steadily paring its position. In May 2024, its arm White Iris InvestmentDealroom has a profile for this one. Try Dealroom → sold a 3.54% stake for US$145.7M — signalling a phased exit as the tyremaker's earnings recover.

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