Ceat Ltd Converts $24.5M Loan to Equity in Sri Lanka Subsidiary

Ceat Ltd has executed a loan conversion agreement to convert USD 24.5 million of a pre-existing inter-company loan into equity shares of its wholly owned subsidiary, CEAT OHT Lanka (Private) Limited. This conversion, approved by the Board of Investment (BOI) in Sri Lanka, represents a portion of an $80 million total loan. The conversion results in the issuance of 12,788,094 ordinary shares at a subscription price of LKR 642.67 per share. The subsidiary's turnover for FY2025-26 was INR 4,206 Million. This transaction does not alter Ceat Ltd's 100% ownership of the subsidiary.