Dunlop India, Falcon Tyres swap shed equity to reduce debt

During extraordinary general meetings at Ruia Group companies Falcon Tyres Ltd and Dunlop India Ltd, held on 26 and 28 April respectively, both tyre makers announced that a portion of their equity will be transferred to three companies outside of the Ruia Group. This transfer is aimed at reducing company debt; the recipient firms are Suncap Commodities Ltd, Regus Impex Pvt Ltd and Salputri Commerce Pvt Ltd.

Following the transfer, Ruia now owns 38.5 per cent of Dunlop India and 31.9 per cent of Falcon Tyres. Suncap, Regus and Salputri own 14.35 per cent, 14,35 per cent and 12.3 per cent of Dunlop India respectively, and 19.6 per cent, 19.6 per cent and 16.8 per cent of Falcon Tyres.