CEAT to acquire additional 5.14% stake in Tyresnmore Online
22nd Jul 2020

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.