Maxxis Rubber India Private Limited announced that it will receive INR 2,309,981,289 in its equity round of funding on May 11, 2022. The transaction will include participation from existing investor Cheng Shin Rubber Ind. Co., Ltd. which will retain its stake of 99.99919% in the company for a total investment of INR 11,050,910,349.

The transaction has been approved by investor's board of directors.