{"id":96665,"date":"2023-03-22T14:50:00","date_gmt":"2023-03-22T09:20:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=96665"},"modified":"2023-03-22T14:48:02","modified_gmt":"2023-03-22T09:18:02","slug":"biz-jk-tyre-ifc","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-jk-tyre-ifc\/","title":{"rendered":"International Finance Corp to buy 5.6% stake in JK Tyre for USD 30 mn"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-572631280\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>JK Tyre &amp; Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3673227435\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The investment by IFC in JK Tyre &amp; Industries will part-finance the expansion of manufacturing capacities and integrate advanced, resource-efficient technologies in the production of commercial and passenger car radial tyres, which have better safety and longevity, the company said in a regulatory filing.<\/p><p>Subsequently, International Finance Corporation (IFC) will hold a 5.6 per cent stake in the tyre major through the issue of compulsorily convertible debentures (CCDs) on a preferential basis, it added.<\/p><p>&#8220;The investment aims to bolster the company&#8217;s capital structure and increase production of energy-efficient radial tyres by more than 10 per cent &#8212; from 32 million to over 35 million tyres a year by 2025,&#8221; JK Tyre &amp; Industries said.<\/p><div class=\"trade-content_5\" id=\"trade-2838729193\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>This aligns with the national vision of a self-reliant India and a strong focus on industrial job creation, it added.<\/p><p>On the investment by IFC, JK Tyre &amp; Industries Chairman &amp; Managing Director Raghupati Singhania said, &#8220;This investment will be utilised for the expansion of projects, which are not only growth-oriented but are also committed to promote sustainable development and enhancing societal value creation&#8221;.<\/p><p>&#8220;Innovation and technology are at the core of each of our products, which keeps us ahead of the curve to meet the needs of our customers,&#8221; he added.<\/p><p>IFC India Country Head Wendy Werner, said, &#8220;A leading green tyre manufacturer with a demonstrated focus on sustainability, our partnership with JK Tyre &amp; Industries will drive their capacity expansion and scaled manufacturing of energy-efficient tyres through resource-efficient tech, low carbon solutions, and circularity&#8221;.<\/p><p>By signalling a long-term view of the industry, IFC aims to catalyse further investments and market competitiveness, and in so doing, contribute to India&#8217;s goals to become both self-reliant in domestic manufacturing, and a global manufacturing hub, Werner added.<\/p><p>JK Tyre &amp; Industries Ltd said it is amongst the top 25 manufacturers in the world with 12 globally benchmarked &#8216;sustainable&#8217; manufacturing facilities &#8212; nine in India and three in Mexico \u2013 that collectively produce around 32 million tyres annually. PTI RKL BAL BAL<\/p><div class=\"trade-content-10\" id=\"trade-1509286984\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-2052091062\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>JK Tyre &amp; Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing. The investment by IFC in JK Tyre &amp; Industries will part-finance the expansion of manufacturing capacities [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-96665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>International Finance Corp to buy 5.6% stake in JK Tyre for USD 30 mn - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"JK Tyre &amp; Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-jk-tyre-ifc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Finance Corp to buy 5.6% stake in JK Tyre for USD 30 mn\" \/>\n<meta property=\"og:description\" content=\"JK Tyre &amp; Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-jk-tyre-ifc\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-22T09:20:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Jk-tyre-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Jk-tyre-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-jk-tyre-ifc\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-jk-tyre-ifc\/\",\"name\":\"International Finance Corp to buy 5.6% stake in JK Tyre for USD 30 mn - 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