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Shanthi Gears becomes TII subsidiary

Special Correspondent
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Shanthi Gears has informed the stock exchanges that it has become a subsidiary of Tube Investments of India Ltd. (TII) effective November 19. This follows the acquisition of 2.12 crore equity shares of Re.1 each by Tube Investments from the shareholders of Shanthi Gears through an open offer.

TII at present holds 5.73 crore equity shares, representing 70.12 per cent of Shanthi Gears.


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