IFC and JK Tyre partner for expansion of energy-efficient tire manufacturing
IFC will hold 5.6% stake in the tire major through issue of compulsorily convertible debentures (CCDs) on preferential basis
According to a press release on March 22, IFC has planned to invest $30 million in JK Tyre & Industries to part-finance the expansion of manufacturing capacities and integrate advanced, resource-efficient technologies in the production of commercial and passenger radial tires that have better safety and longevity.
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