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Investor sells 4.5% stake worth Rs 1,281 cr in Apollo Tyres by block deal

The key buyers included Nippon India Mutual Fund, ICICI Prudential Mutual Fund, and Edelweiss Mutual Fund, among others

Apollo strives to build brands

BS Reporter Mumbai

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Shares of Apollo Tyres worth Rs 1,281 crore, which translates to a 4.5 per cent stake, were sold through a block deal on Tuesday. White Iris Investments, a foreign portfolio investor (FPI), sold the shares, holding an 8 per cent stake in the company as of September 2023.

The key buyers included Nippon India Mutual Fund, ICICI Prudential Mutual Fund, and Edelweiss Mutual Fund, among others. The shares of Apollo Tyres rose by 0.5 per cent on Tuesday and ended the session at Rs 455.3. About 2.9 crore shares were traded, of which 2.85 crore were traded through the block deal. In 2023, the stock has risen by 40.6 per cent.

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First Published: Dec 19 2023 | 8:35 PM IST

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