Tube Investments of India (TIL) has made additional investment in TTPL on February 26, 2015. TI Tsubamex (TTPL) is a joint venture company with TIL and Tsubamex Company (Tsubamex), Japan
Consequently, TTPL has become a subsidiary of the company upon the allotment of 1,75,00,000 equity shares of the face value of Rs 10 each in the share capital of TTPL. The company and Tsubamex hold 75% and 25% respectively in TTPL’s equity share capital.
The investment of Rs 17.5 crore in TTPL by the company was approved by the company’s shareholders, through the Special Resolution passed on January 16, 2015.
Tube Investments of India is the flagship company of the Murugappa Group with multiple businesses ranging from diversified auto-ancillary products, bicycle retailing to financial services and insurance.
Tube Investments of India is currently trading at Rs. 368.05, up by 15.60 points or 4.43% from its previous closing of Rs. 352.45 on the BSE.
Consequently, TTPL has become a subsidiary of the company upon the allotment of 1,75,00,000 equity shares of the face value of Rs 10 each in the share capital of TTPL. The company and Tsubamex hold 75% and 25% respectively in TTPL’s equity share capital.
The investment of Rs 17.5 crore in TTPL by the company was approved by the company’s shareholders, through the Special Resolution passed on January 16, 2015.
Tube Investments of India is the flagship company of the Murugappa Group with multiple businesses ranging from diversified auto-ancillary products, bicycle retailing to financial services and insurance.
Tube Investments of India is currently trading at Rs. 368.05, up by 15.60 points or 4.43% from its previous closing of Rs. 352.45 on the BSE.
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