Apollo Tyres raises US$67.9M in three-year debentures at 7.81%
What's the deal? Apollo TyresDealroom has a profile for this one. Try Dealroom → has raised US$67.9M (roughly $52 million) through a private placement of non-convertible debentures, the company confirmed in a September 30, 2026 filing to the National Stock Exchange of IndiaDealroom has a profile for this one. Try Dealroom →. It issued 50,000 secured, listed, rated debentures at a face value of US$1.36K each.
The terms: The debentures carry a coupon of 7.81% per annum, payable annually, over a three-year tenure. Allotted on September 30, 2026, they mature on September 28, 2029, with repayment structured as a single bullet payment and no premium or discount at issue or redemption.
How they're secured: The debentures are backed by a first pari-passu charge on the company's tangible movable fixed assets, excluding those acquired under deferred payment and parts management schemes. Apollo Tyres must maintain a security cover of 1.25 times on a book value basis, and a 1% penalty applies to payment delays exceeding three months.
What's the endgame? The company said the raise is meant to strengthen its financial resources and support long-term strategic objectives. No special rights or privileges are attached to the instruments.
The signal: The issuance underlines Apollo Tyres' standing as a large, listed manufacturer able to tap debt markets on straightforward terms — a fixed coupon, standard security cover, and a clean repayment structure — without diluting equity to fund its plans.
Read more: businessupturn.com
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