New Delhi: Tyre main CEAT on Tuesday has introduced that it has determined to make an acquisition of additional 5.14 p.c stake in the Tyresnmore Online, an online tyre promoting platform, which was fashioned in June 2014.
CEAT additionally said that it’s going to invest Rs 2.60 crore extra in the tyre promoting platform for this additional acquisition.
The recent funding might be made in a number of tranches.
As the tyre main claims, upon completion of the brand new funding in all tranches, the entire holding of CEAT in the Tyresnmore Online on a completely diluted foundation can be 40.70 p.c. The recent funding is expected to be accomplished by the tip of FY21, claims CEAT.
CEAT gives contactless service for its prospects