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.
