Tube Investments of India forays into contract manufacturing biz

Tube Investments of India has on 13 March 2023 entered into an agreement with N. Govindarajan (NG) to incorporate a subsidiary for pursuing contract development and manufacturing operations (CDMO) business, subject to the approval of the Shareholders of the company.

TII will be investing up to Rs. 285 crore and NG will be investing up to Rs. 15 crore in the form of equity and compulsorily convertible preference shares.

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