CEAT has now made an investment of second & last tranche by subscribing to 12,741 Compulsorily Convertible Preference Shares, having face value of Rs 1 each summing up to an approximate amount of Rs 3,00,00,000 and thereby acquiring 6.67% of the total share capital of Tyresnmore Online (Target Company).
With this investment, the total holding of CEAT in the Target Company on fully diluted basis will be 33.33%.
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.