Ceat Limited to make further investment of Rs 3.5cr in Greenzest Solar

Ceat Limited said that it will make a further investment of INR 3.5 crores in Greenzest Solar Private Limited to increase its stake in the latter to 27.52%.

Greenzest Solar is a special purpose vehicle for carrying out construction, operation, and maintenance of Ceat’s captive power generating plant and to supply, on a captive basis, the power produced from the facility to the Indian tyre manufacturing company.

Ceat will make the investment by subscribing to 4,37,500 shares having face value of INR 10 each at a price of INR 80 per share.