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Tube Investments to buy stake in Shanthi Gears

The Muragappa group company Tube Investment if India is planning to expand its stake by purchasing about 44.12 of stake from Shanthi Gears. This stake would cost them around Rs 292 crore. The company had entered into an agreement where they will acquire 3.6 crore equity shares for Re 1 each.

Tube Investments TI Logo

Tube Investments TI

They are also planning to open an offer to Shanthi to acquire their 2.12 crore equity shares. This is around 26 per cent of the share capital of Shanthi Gears. A lot of us know that Shanthi Gears is manufacturing products that are used in the industry like gear boxes, gears, gear assemblies and gear motors.

Shanti Gears Logo

Shanti Gears

It has been a leading supplier of various kinds of gears and gearboxes to several industries. They have successfully done their business over the past four decades. The company had been constantly leading in this segment in the market of India. Tube investment is trying to learn and understand the engineering space and how Shanthi had developed the right customer service making them successful.

Source: http://www.thehindubusinessline.com/companies/article3634480.ece?homepage=true

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