Apollo Tyres increases stake in Green Infra Wind Power

Apollo Tyres (BSE:APOLLOTYRE) announced today that it has increased its equity stake in Green Infra Wind Power Projects Limited (GIWPPL). The company acquired 60,000 equity shares, representing 3.43% of GIWPPL's equity, for a total consideration of INR 6,00,000. Following this acquisition, Apollo Tyres' equity shareholding in GIWPPL will increase from 17.84% to 21.27%. GIWPPL operates a 24 MW wind power project in Tamil Nadu, with a turnover of INR 235.25 million as of March 31, 2024. The acquisition, aimed at procuring wind power, is expected to be completed by the first week of May 2025. GIWPPL is a subsidiary of Sembcorp Green Infra Private Limited.