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Tube Investments acquires controlling stake in CG Power and Industrial Solutions

27 Nov 2020 Evaluate

Tube Investments of India (TIL) has acquired a controlling stake in CG Power and Industrial Solutions and now holds 50.62 percent of the company's paid-up share capital. CG Power has received Rs 587.50 crore from the TIL. As per the proposal, CG Power has allotted 64.25 crore equity shares of Rs 2 each at a price of Rs 8.56 (including premium) per share, for an aggregate sum of Rs 550 crore, and 17.52 crore warrants amounting to Rs 37.50 crore.

Tube Investments of India was formed by merging TI Cycles of India and Tube Products of India. The company is in to the business of manufacturing metal products.

Tube Investments Share Price

2977.05 -115.70 (-3.74%)
03-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 146.25
UNO Minda 1127.10
Tube Investments 2977.05
Bosch 41895.40
CIE Automotive India 471.30
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