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CEAT to acquire additional 5.14% stake in Tyresnmore Online

22 Jul 2020 Evaluate

CEAT has entered into second addendum agreement to the existing share subscription and shareholders' agreement with Tyresnmore Online and other parties, for making a further investment up to Rs 2.6 crore in one or more tranches on such terms and conditions as prescribed therein to acquire additional 5.14% stake of the post issue total share capital of Tyresnmore Online.

Upon completion of the investment in all tranches, the total holding of CEAT in Tyresnmore on a fully diluted basis would be 40.70%.

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.

Peers
Company Name CMP
MRF 123284.50
Apollo Tyres 401.55
JK Tyres & Inds. 339.55
Ceat 3285.15
Balkrishna Inds. 2067.10
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