IsabelWalpole - China Automobile Expert-CNAUTO

Currently, Apollo Tyres generates nearly 60% of its revenue from sales. New Delhi: Apollo Tyres, headquartered in Gurgaon, which recently raised Rs 150 crore through a Qualified Institutional Sale (QIP) plans to deploy some resources to develop a new plant in India. Andhra Pradesh. Some of the funds will also be used to double the production capacity of the Chennai plant to strengthen its leadership position in the truck, bus, radial and passenger tire segments in the local market. Kanwar, vice-chairman of Apollo Tyres, told The Economic Times that as the capacity expansion cycle comes to an end, the company will focus on expanding its presence in India and Europe through the organic route. But the next plan is organic. Today, capital and human resources are being utilized to build Hungary and develop the Andhra facility, and it is very important that we do not relinquish our leadership position in India. Currently, Apollo Tyres generates nearly 60% of its revenue from the do...

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Apollo tyres plans to use Rs 1,500-cr QIP proceeds to expand operations