CEAT Limited’s committee approved converting USD 24.5 million inter-company loans into equity Back

CEAT Limited announced that its Finance and Banking Committee approved the conversion of USD 24.5 million of existing inter-company loans into equity shares of its wholly owned subsidiary, CEAT OHT Lanka (Private) Limited. The conversion, which is subject to approval by the Board of Investment in Sri Lanka, will result in the issuance of 12,788,094 ordinary shares at a price of LKR 642.67 per share and will not alter CEAT OHT Lanka (Private) Limited’s status as a 100% wholly owned subsidiary.