Maxxis Rubber India Private Limited announced that it will receive INR 2,249,981,760 in funding on August 11, 2020. The transaction will include participation from existing investor Cheng Shin Rubber Ind. Co., Ltd. (TSEC:2105) which will increase stake to 99.99919% stake comprises total investment of INR 8,749,929,060. The transaction has been approved by investor board of directors and audit committee.