ALSO READTube Investments shrugs off strong quarterly earnings Tube Investments of India commences production at new bicycle manufacturing plant Tube Investments Q1 PAT more than doubles to Rs 40 cr Tube Investments of India standalone net profit rises 113.32% in the September 2016 quarter Tube Investments of India standalone net profit rises 135.42% in the June 2016 quarter
Acquires 50% stake in share capital of TI AbsoluteTube 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.
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