Warburg Pincus Sells Apollo Tyres Stake for Rs 1174.94 Crore
By ThePip Desk
Warburg Pincus divests 4.25% stake in Apollo Tyres for Rs 1174.94 crore. ICICI Prudential and SBI Life acquire shares in the Rs 435 per share deal.
US-based private equity firm Warburg Pincus, operating through its arm Emerald Sage Investment, has divested a significant 4.25% stake in Apollo Tyres. This transaction, executed via an open market sale, generated around Rs 1174.94 crore.
Emerald Sage Investment offloaded more than 2.70 crore equity shares of Apollo Tyres during the market activity. Each share was sold at an average price point of Rs 435, marking a substantial institutional exit.
Key Transaction Details
- Divested Stake: 4.25% of Apollo Tyres
- Total Transaction Value: Around Rs 1174.94 crore
- Shares Sold by Emerald Sage Investment: Over 2.70 crore equity shares
- Average Sale Price Per Share: Rs 435
Concurrently, two prominent Indian financial institutions moved to acquire portions of the divested stake. These acquisitions were conducted at the same average price of Rs 435 per share, reflecting market consensus on the valuation.
Major Institutional Acquisitions
- ICICI Prudential Mutual Fund: Purchased approximately 1.91 crore shares, valued at Rs 829.98 crore.
- SBI Life Insurance Company: Acquired around 56.32 lakh shares, amounting to Rs 244.99 crore.
Apollo Tyres stands as a leading tyre manufacturer within the Indian market. Its extensive product portfolio encompasses both tubeless and tube type tyres, serving a broad spectrum of vehicles including cars, SUVs, trucks, and buses across various segments.