CEAT has announced a significant investment in its wholly owned subsidiary, Tyresnmore Online Private Limited, amounting to ₹ 325 lakh. This investment will be made through a rights issue, involving the subscription of 26,626 equity shares.
The proposed investment is classified as a related party transaction under Section 177 of the Companies Act, 2013, and Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. However, the transaction is conducted at arm’s length, and CEAT‘s promoter group has no additional interest in Tyresnmore beyond its status as a wholly owned subsidiary.
Tyresnmore operates in the auto ancillary sector, focusing on the sale of automotive tyres, batteries, and related services. The company reported a turnover of ₹ 3,225.73 lakh as of March 31, 2025. The investment is expected to maintain CEAT’s 100% shareholding in Tyresnmore.
The completion of the share allotment is anticipated by May 8, 2026, with the transaction conducted through cash consideration via normal banking channels.
Tyresnmore, incorporated on June 2, 2014, in New Delhi, India, has shown a steady increase in turnover over the past three years, with figures of ₹ 1,481.15 lakh in FY 2022-23, ₹ 2,558.64 lakh in FY 2023-24, and ₹ 3,225.73 lakh in FY 2024-25.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).