ERJ staff report (DS)
Mumbai, India - IN a brief stock Exchange announcement, Apollo Tyres said its shareholders have approved a motion to permit the company to borrow up to Rs 50 billion (euro 736 million).
The announcement said the company may draw on either Rupee-denominated funds, or foreign currencies, and left the terms of the loans to be negotiated by the management of Apollo Tyres Ltd
A second motion permitting the management to mortgage any corporate assets as loan securities was also passed by the postal ballot.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Stock Exchange announcement from Apollo