Tube Investments of India has acquired 33,61,902 equity shares of the face value of Rs 10 each, representing 67% of the subscribed and paid up share capital of M/s. Lotus Surgicals (Lotus). Consequently, Lotus has become a subsidiary of Tube Investments of India.
M/s. PI Opportunities Fund I Scheme II (Premji Invest) has acquired the balance 33% of the subscribed and paid up share capital of Lotus. Earlier, the company had entered into a Shareholders' Agreement with Premji Invest in connection with the acquisition of Lotus.
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.
