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Apollo Tyres has issued compulsorily convertible preference shares in the company worth ₹1,080 crore (around $150 million), leading to the acquisition of a minority stake of 9.93% by an affiliate of Warburg Pincus.
Shardul Amarchand Mangaldas acted for Apollo Tyres and the team was led by Managing Partner Akshay Chudasama and Partner Ashni Roy along with Principle Associate Davis Kanjamala, Senior Associate, Neha Shaw, Senior Associate Akansha Singh and Associate Anushree Pathak.
Partner Yogesh Chande and Senior Associate Kanwardeep Kapany assisted on the securities law aspects of the transaction.
Partner Abhay Sharma and Senior Associate Priyanka Jain assisted on the tax aspects of the transaction and Partner Gauri Chhabra and Associate Sagarika Parab assisted on the competition law aspects of the transaction.