Apollo Global Management, Inc. (NYSE:APO) Synergy Metals Investments Holding Limited are set to invest INR 15 billion in JSW Group's cement business run by his son Parth, people in the know said, as it seeks to scale up capacity to 25 million tonnes a year. Upon conversion, the investors will own up to 19% cumulatively and get a board seat each. Synergy, spearheaded by long-time Arcelor-Mittal executive Sudhir Maheshwari, received approval from the Competition Commission of India on July 15 to acquire an equity stake in JSW Cement, while Apollo is expected to sign its final agreement this week. JSW and Apollo declined to comment.