Apollo Tyres increases stake in Green Infra Wind Projects

Apollo Tyres announced today that it has increased its stake in Green Infra Wind Power Projects Limited (GIWPPL), a renewable energy company, through the acquisition of an additional 60,000 equity shares at a price of INR10 per share. The transaction, totaling INR600,000, raises Apollo Tyres' equity shareholding in GIWPPL from 17.84% to 21.27%. GIWPPL operates a 24 MW wind power project in Tamil Nadu, with a turnover of INR235.25 Mn as of March 31, 2024. The acquisition aligns with Apollo Tyres' broader strategy of investing in sustainable and renewable energy sources. GIWPPL is a subsidiary of Sembcorp Green Infra Private Limited.