19 Oct 2021
Indian tire maker now has a 46% ownership in tire service digital platform
Mumbai, India – Ceat Ltd has increased its shares in an Indian digital tire distribution and fitting service platform Tyresnmore Online, the company has announced.
The Indian tire maker invested Rs 14 million (€160,000) for an additional 1.83% share in Tyresnmore, brining its total holding in the business to 46%, said CEAT in a notice to the Mumbai Stock Exchange 1 Oct.
Tyresnmore launched its “doorstep” tire fitment services in 2014 in Delhi and has now expanded the service to 12 major Indian cities of Delhi, Bangalore, Hyderabad, Pune, Mumbai, Navi Mumbai, Thane, Gurgaon, Faridabad, Noida, Great Noida and Ghaziabad.
The company has also expanded its offerings to doorstep replacement of batteries in addition to tire fitting.
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