Ceat's Strategic Financial Moves: A New Investment Chapter
Tyre manufacturer Ceat announced its plan to raise Rs 250 crore via unsecured non-convertible debentures through private placement. This move follows a previous issuance of Rs 150 crore in NCDs. Additionally, Ceat's board greenlighted Rs 2.07 crore investment in its Indonesian subsidiary, PT CEAT Tyres.
- Country:
- India
On Friday, tyre manufacturer Ceat revealed its board's approval to raise up to Rs 250 crore through the issuance of unsecured non-convertible debentures (NCDs) in multiple tranches on a private-placement basis.
This financial endeavor is in addition to Rs 150 crore in NCDs previously issued by the firm, as stated in its regulatory filing. The issuance is strategically aimed at enhancing the company's financial resources.
Moreover, Ceat's board has sanctioned an investment of up to Rs 2.07 crore, also in tranches, via equity share subscription in PT CEAT Tyres Indonesia, demonstrating a commitment to strengthening its international subsidiaries.
(With inputs from agencies.)
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