CEAT Limited approves ₹3.45 crore investment in Tyresnmore Online Private Limited through a rights issue to support business expansion, maintain full ownership, and strengthen its presence in the automotive ancillary services sector.
11 Apr 2025 | 2713 Views | By Sarthak Mahajan
CEAT Limited has announced a further investment of ₹3.45 crore in its wholly owned subsidiary, Tyresnmore Online Private Limited, by subscribing to a rights issue of equity shares.
According to the regulatory filing made under Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the ...
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CEAT Limited has announced a further investment of ₹3.45 crore in its wholly owned subsidiary, Tyresnmore Online Private Limited, by subscribing to a rights issue of equity shares.
According to the regulatory filing made under Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company will subscribe to 28,264 equity shares of Tyresnmore. The investment is intended to support the ongoing growth and operational needs of the subsidiary, which is involved in selling automotive tyres, batteries, and providing related services such as installation and wheel alignment.
Despite this capital infusion, CEAT will continue to hold a 100% stake in Tyresnmore. The transaction is classified as a related party transaction but is conducted on an arm’s length basis, as per the applicable regulatory norms.
Tyresnmore, incorporated in June 2014 and headquartered in New Delhi, has shown consistent growth over the past three years, with turnover rising from ₹1,097.90 lakh in FY 2021–22 to ₹2,563.66 lakh in FY 2023–24. The latest financial results for FY 2024–25 are currently under finalization.
The share allotment is expected to be completed by April 30, 2025, with the consideration being paid in cash through normal banking channels. No government or regulatory approvals are required for this investment.