Ceat has received its board’s approval to raise amount not exceeding Rs 500 crore through further issue of securities including Equity Shares or Foreign Currency Convertible Bonds or American Depository Receipts or Global Depository Receipts or fully or partly convertible debentures, non convertible debentures, preference shares convertible into equity shares or any other equity linked securities, by way of one or more public or private offerings (including through a Qualified Institutions Placement). The company’s board gave the approval for the same at its meeting held on August 26, 2014.
Ceat is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.
