Ceat Ltd: Converts USD 24.5M Loan to Equity in Lanka Subsidiary

Ceat Ltd's Finance and Banking Committee approved the partial conversion of inter-company loans amounting to USD 24.5 million into equity shares of its wholly-owned subsidiary, CEAT OHT Lanka (Private) Limited. This transaction converts existing debt into equity without fresh capital infusion. CEAT OHT Lanka (Private) Limited, engaged in automotive tyre sales, will continue to be a wholly-owned subsidiary. The conversion is subject to approval from Sri Lanka's Board of Investment. The subsidiary's turnover for FY2025-26 is projected at INR 4,206 Million.