The city-based Murugappa Group is planning to invest around Rs 450 crore to complete its expansion plan and consolidate its business. Further, in the year of the mixed performance, the group invested Rs 850 crore in acquisition.
The group acquired stakes in companies like Shanthi Gears, Liberty Phosphate, Liberty Urvarak, Thukela Refractories, Isithebe, Andhra Pradesh Gas Power Corporation besides consolidating stake in Financiere C10, S.A.S (Sedis), France and buying out joint venture partner Cargill’s stake in sugar refinery Silk Road Sugar.
Tube Investments of India, (TII) is the flagship company of the Murugappa Group with multiple businesses ranging from diversified auto-ancillary products, bicycle retailing to financial services and insurance.
