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Tube Investments to buy 70% stake in e-tractor co Cellestial for Rs 161 cr

The Murugappa group firm will form separate EV subsidiary, infuse Rs 350 cr

Topics
Electric mobility | Electric Vehicles

Shine Jacob  |  Chennai 



M&A, mergers & acquisitions, merger, partnerships, Joint venture, JV

Marking its aggressive foray into e-mobility space, Murugappa group company Tube Investments of India (TII) has decided to come up with a 100 per cent subsidiary to focus on clean mobility and is planning to infuse around Rs 350 crore into the newly-formed arm through a combination of equity, preference and debt instruments.

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First Published: Mon, January 24 2022. 15:37 IST

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