Ceat board approves to raise up to Rs 250 cr via issue of securities

New Delhi, Dec 5 (PTI) Tyre maker Ceat on Friday said its board has approved to raise up to Rs 250 crore through issuance of unsecured non-convertible debentures in one or more tranches on a private-placement basis.

This is an addition to the existing NCDs of Rs 150 crore already issued by the company, it said in a regulatory filing.

The board also approved investment up to Rs 2.07 crore in one or more tranches, by way of subscription to equity shares of PT CEAT Tyres Indonesia, a subsidiary of the company, it added. PTI MSS TRB