Shanthi Gears has become subsidiary company of Tube Investments of India, Chennai (TII) as the latter has acquired 2,12,46,122 equity shares of Rs 1 each of the Shanthi Gears on November 19, 2012 from its shareholders, representing 26% of the company’s share capital, pursuant to the Open Offer made by TII under the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
Further with the above acquisition, TII holds 5,72,96,413 equity shares, representing 70.12% of the company’s share capital. Consequently, Shanthi Gears has become a subsidiary of TII, effective from November 19, 2012.
Shanthi Gears act as consultants in the field of engineering design, advisors and purveyors of technical know-how and applied technology, solution providers and business process outsourcers in the field of engineering design and drawing, software programming etc.
