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Tube Investments of India acquires 76% stake in Moshine Electronics

24 Sep 2022 Evaluate

Tube Investments of India has acquired 20,66,628 equity shares of the face value of Rs 10 each, representing 76% of the subscribed and paid up share capital of Moshine Electronics (Moshine) at a revised consideration of Rs 7.38 crore (original consideration of Rs 8.64 crore). With this, Moshine has become a subsidiary of the Company under section 2(87) of the Companies Act, 2013.

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.

Peers
Company Name CMP
SamvardhanaMotherson 157.50
Tube Investments 2338.60
Bosch 45599.85
UNO Minda 1115.00
Bombay Burmah Trdg. 1334.15
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