CEAT Limited to Invest Up To ₹325 Lakhs in Wholly Owned Subsidiary Tyresnmore Online
CEAT Limited has approved an investment of up to ₹ 325 Lakhs in Tyresnmore Online Private Limited, a wholly owned subsidiary of the company. This investment will be made through the subscription of equity shares via a rights issue.The proposed investment involves purchasing 2,626 equity shares of Tyresnmore. The funds are designated as cash consideration via remittance through a normal banking channel.
Tyresnmore Online Private Limited operates in the Auto Ancillary sector, focusing on the sale of automotive tyres, accessories, and providing services such as fitting, wheel balancing, and wheel alignment. Incorporated on June 2, 2014, the company has shown consistent turnover growth over the past three fiscal years.
| Financial Details | Value (INR) |
|---|---|
| Total Proposed Investment Consideration | Up to ₹ 325 Lakhs |
| Number of Shares Acquired | 2,626 equity shares |
| Target Entity Turnover (FY 2025) | ₹ 3,225.73 Lakhs |
| Industry Sector | Auto Ancillary |
The company stated that the proposed investment is in the equity shares of a wholly owned subsidiary, ensuring that CEAT’s shareholding post the proposed investment remains at 100%.
The transaction is noted to be at arm's length. The expected allotment of the 2,626 equity shares to CEAT Limited by Tyresnmore is anticipated by May 08, 2026.
CEATLTD Stock Price Movement
Today, CEAT Limited shares rallied by 2.26% to close at ₹3799.4. The stock saw trading volume of 141,541 shares, finding support within its intraday range of ₹3675.6 to ₹3820.Source:
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