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Tube Investments of India to raise funds up to Rs 400 crore

04 May 2016 Evaluate

Tube Investments of India has received an approval for fresh long-term borrowing in order to meet the fund needs during FY 2016-17, for a sum not exceeding in the aggregate Rs 400 crore. The funds will be raised by way of issue of privately placed secured nonconvertible debentures, in one or more tranches. The board of directors at its meeting held on May 03, 2016 has approved for the same.

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.


Peers
Company Name CMP
Bajaj Finserv 1659.20
TVS Holdings 11023.35
Cholamandalam Fin. 1247.45
Altius Telecom Infra 170.00
Kama Holdings 2170.05
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