CEAT has approved an investment of up to Rs 2.57 crore by way of subscription in Rights Issue of equity shares of Tyresnmore Online (Tyresnmore), a wholly owned subsidiary of the Company. 21,055 Equity shares pursuant to the current investment would be allotted to the Company by Tyresnmore on or before January 20, 2025.
The company's shareholding post this proposed investment remains 100%. Tyresnmore is, inter alia, engaged in the business of selling automotive tyres, accessories and/or providing services of installing, fitting, wheel balancing and wheel alignment for automotive tyres.
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.
