Apollo Tyres has accepted the resignation of Gaurav Kumar as Chief Financial Officer (KMP), effective the close of business hours on October 6, 2026. The departure is to pursue new personal and professional challenges outside the organization.

Leadership change at Apollo Tyres

The company disclosed that no significant reasons were cited in connection with the departure. Gaurav Kumar's exit marks a change in the senior financial leadership of Apollo Tyres. In his resignation letter, Kumar confirmed there is no other material reason other than the one mentioned for leaving the role.

Regulatory disclosure details

The resignation was intimated under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors approved the outcome of the resignation in a meeting held on August 6, 2026. The Company Secretary & Compliance Officer, Seema Thapar, signed the official communication to stock exchanges confirming the cessation of services.

Apollo Tyres allotted ₹500 crore in Non-Convertible Debentures (NCDs) on a private placement basis on September 30, 2026. The three-year instrument carries an annual coupon rate of 7.81% and will be redeemed through bullet repayment.

The allotment was approved by the Committee of Directors-NCDs during a meeting held on the same day. The debentures are secured, listed, rated, and redeemable, with the company maintaining a first pari-passu charge on its tangible movable fixed assets to back the issuance.

Instrument Details and Security Structure

The issuance comprises 50,000 NCDs with a face value of ₹1,00,000 each. These securities are listed on the National Stock Exchange of India Ltd. The maturity date is set for September 28, 2029, exactly three years after allotment.

Security cover requirements mandate a ratio of 1.25x on the book value basis. The charge excludes windmills purchased under deferred consideration payment plans and engineering materials acquired under parts management agreement schemes from creditors.

Redemption and Default Provisions

The company specified that there is no premium or discount on either the issue price or the redemption value. Consequently, the effective yield for investors holding the debentures to maturity remains identical to the stated coupon rate of 7.81%. In the event of a delay in interest or principal payment exceeding three months from the due date, a penal interest of 1% per annum applies.

No special rights, interests, or privileges are attached to these instruments. The disclosure was filed under Regulation 30 read with Schedule III Part A (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.