Acquires 50% stake in share capital of TI Absolute
Tube Investments of India announced that pursuant to the Joint Venture Agreement with Absolute Speciality Foods Chennai (Absolute) for the establishment of a joint venture company viz., TI Absolute Concepts (Tl Absolute), the Company has on 28 November 2016 invested Rs. 7.5 crore towards subscription to the equity share capital of TI Absolute and the Company has been allotted 75,00,000 equity shares of the face value of Rs. 10/- each, at par, by TI Absolute. The Company now holds 50% of the equity share capital of TI Absolute, with the balance 50% being held by the Company's JV partner.Powered by Capital Market - Live News
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