Investor sells 4.5% stake worth Rs 1,281 cr in Apollo Tires through block deal

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

Major buyers included Nippon India Mutual Fund, ICICI Prudential Mutual Fund and Edelweiss Mutual Fund. Shares of Apollo Tires rose 0.5 percent on Tuesday to close the session at Rs 455.3. About 2.9 crore shares were traded, of which 2.85 crore were through the block deal. In 2023, the share will have increased by 40.6 percent.

First print: December 19, 2023 | 8:35 PM IST