Ceat increases shareholding in Indian portal Tyresnmore

Tyre maker Ceat Limited has raised its shareholding in Indian online tyre retailer Tyresnmore Online Private Limited to 44.17 per cent. Ceat paid Rs 24 million (£234,000) to acquire an additional 3.47 per cent in the company.

Tyresnmore was established in Delhi in 2014 and specialises in the delivery and fitment of tyres and batteries. Today the company operates in 12 major locations across India. Ceat reports that as of 31 March 2020, Tyresnmore had a turnover of Rs 113.5 million (£1.1 million).