CEAT Approves Investment of Up To Rs 274 Lakhs in Wholly Owned Subsidiary Tyresnmore
CEAT Limited has approved a significant investment into Tyresnmore Online Private Limited, a wholly owned subsidiary. The company's approval covers an investment up to Rs. 274 Lakhs through the subscription of equity shares during a Rights Issue conducted by Tyresnmore.The proposed transaction involves subscribing to 22,447 equity shares of Tyresnmore for a total consideration up to Rs. 274 Lakhs. This investment is structured as a cash consideration via remittance through a normal banking channel. With this current investment, CEAT's shareholding in Tyresnmore remains at 100%.
Tyresnmore Online Private Limited operates in the Auto Ancillary industry, focusing on the sale of automotive tyres and accessories. The company also provides services such as installation, fitting, wheel balancing, and wheel alignment for automotive tyres.
The background of Tyresnmore indicates it is a private company incorporated on June 2, 2014, with its registered office in New Delhi, India.
Details regarding the turnover of Tyresnmore over the last three financial years are as follows:
| Financial Year | Turnover (Lakhs) |
|---|---|
| FY 2023 - 24 | 2,558.64 |
| FY 2024 - 25 | 3,225.73 |
| FY 2025 - 26 | 4,329.13 |
The investment is structured to maintain the company's control as a wholly owned subsidiary. The allotted 22,447 equity shares are expected to be delivered by Tyresnmore latest by July 31, 2026.
CEATLTD Stock Price Movement
CEAT Limited shares shed 0.89% in the market today, settling at ₹3858.6 after trading within a range of ₹3808 to ₹3983.The stock saw robust activity during the session, with 342,248 shares recorded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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