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| Exchange Disseminated Time | Tube Investments of India Ltd has informed BSE that TI Tsubamex Private Limited (TTPL), a joint venture company with Tsubamex Company Limited (Tsubamex), Japan on February 26, 2015 has become a subsidiary of the Company consequent upon the allotment of 1,75,00,000 equity shares of the face value of Rs. 10/- each in the share capital of TTPL. The Company and Tsubamex hold 75% and 25% respectively in TTPL’s equity share capital.
As informed by the Company's letter of January 16, 2015, the investment of Rs. 17.5 crores in TTPL by the Company was approved by the Company’s shareholders, through the Special Resolution passed on January 16, 2015. |
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