Apollo Tyres has acquired a stake in Green Infra Wind Power Projects, increasing its shareholding from 17.84% to 21.27%. The ₹6,00,000 acquisition is set to be completed by May 2025.
Apollo Tyres Limited is set to acquire a 3.43% stake by purchasing 60,000 equity shares of Green Infra Wind Power Projects Limited (GIWPPL), priced at ₹10 per share, totalling ₹6,00,000.
This acquisition is expected to be completed by the first week of May 2025. As a result, Apollo Tyres' shareholding in GIWPPL will increase from 17.84% to 21.27%. Prior to this, Apollo Tyres held 3,12,000 equity shares, which represented 17.84% of the company's equity capital.
GIWPPL overview
GIWPPL is engaged in the renewable energy sector, operating a 24 MW (megawatt) wind power project in Tamil Nadu. As of March 31, 2024, the company's turnover stood at ₹23.525 crores, showcasing steady growth compared to the previous years.
In fact, GIWPPL's turnover for FY 2023 was ₹20.88 crores, while in FY 2022, it was ₹27.43 crores. The company, which was incorporated on July 4, 2011, is a subsidiary of Sembcorp Green Infra Private Limited.
The strategic importance of the acquisition
This move supports Apollo Tyres' strategy to enhance its position in the renewable energy sector. The acquisition of a significant stake in GIWPPL will give Apollo Tyres access to wind power generation, supporting the company's sustainability goals. It also underlines the growing importance of renewable energy in business portfolios, offering long-term growth prospects.
Future outlook
At 10:34 AM on April 29, 2025, the shares of Apollo Tyres were trading at ₹456.65 per share, down by ₹2.60 (-0.57%) compared to the earlier close on the Bombay Stock Exchange (BSE). The acquisition of a stake in GIWPPL demonstrates Apollo Tyres' commitment to expanding its renewable energy portfolio, with a clear focus on long-term sustainable growth.
The wind power sector, particularly in India, is expected to continue its growth trajectory as the government pushes for clean energy initiatives. Apollo Tyres' investment in GIWPPL positions the company to benefit from this shift towards greener energy sources. Additionally, the procurement of wind power could help Apollo Tyres in achieving its renewable energy targets.
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