Warburg Pincus divests 4.25 per cent stake in Apollo Tyres for Rs 1,175 crore

Representational Image. File pic.

Private equity major Warburg Pincus divested a 4.25 per cent stake in Apollo Tyres for Rs 1,175 crore through open market transactions on Thursday.

US-based Warburg Pincus, through its arm Emerald Sage Investment Ltd, sold a total of 2,70,10,000 shares, representing a 4.25 per cent stake in Gurugram-based Apollo Tyres, according to block deal data on the National Stock Exchange (NSE).

The shares were disposed of at an average price of Rs 435 apiece, taking the transaction value to Rs 1,174.93 crore.

After the latest transaction, Emerald Sage Investment's holding in Apollo Tyres has come down to 5.68 per cent from 9.93 per cent.

A clutch of institutional investors stepped in to buy the shares at the same price, with ICICI Prudential Mutual Fund emerging as the biggest buyer, picking up more than 1.9 crore shares, or a 3 per cent stake in the company, for Rs 829.98 crore.

SBI Life Insurance Company acquired 56.32 lakh shares for Rs 245 crore, and Bajaj Life Insurance purchased 22.98 lakh shares for Rs 99.96 crore.

Shares of Apollo Tyres rose marginally to close at Rs 444.40 apiece on the NSE.

Earlier this month, Apollo Tyres reported a multi-fold jump in consolidated net profit at Rs 348.87 crore for the first quarter ended June 30, 2026, on the back of a low base effect and strong sales across market segments.

The company had posted a net profit of Rs 12.88 crore a year ago, which included the net impact after tax of restructuring and impairment of the Netherlands plant amounting to Rs 273 crore, according to a regulatory filing.

Its revenue from operations in the first quarter this fiscal stood at Rs 7,397.79 crore as against Rs 6,560.76 crore a year ago.

In May 2024, Warburg Pincus' arm White Iris Investment divested a 3.54 per cent stake in Apollo Tyres for Rs 1,073 crore.

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