American private equity firm Warburg Pincus Llc., through its subsidiary Emerald Sage Investment Ltd, has agreed to purchase compulsorily convertible preference shares (CCPS) worth ₹1,080 crore (about $150 million) in Apollo Tyres Ltd. “We see a compelling growth story in Apollo Tyres and believe the company is well-positioned to build upon the strong leadership position it has carved out within the industry. Warburg Pincus is excited to partner with the management team of Apollo Tyres in this journey and looks forward to supporting them during the next phase of the company’s growth,” said Vishal Mahadevia, managing director and head, Warburg Pincus India.