CEAT has now signed the Share Subscription and Shareholders' Agreement (SSHA) with Greenzest Solar and Cleantech India OA, for subscribing to at least 26% of total equity share capital of Greenzest, for a value note exceeding Rs 5 crore.
The Company has entered into a Power Purchase Agreement with Greenzest, who is in the business of owning, operating and maintenance of the Captive Generating Plant and supply of electricity. In line with the statutory requirements to avail such power / electricity for captive usage, the Company is required to subscribe to the equity share capital of Greenzest.
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.
