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TI Tsubamex Pvt Ltd has become a subsidiary of Tube Investments of India, a Murugappa Group company. According to information provided to the BSE, the Murugappa Group company has invested ₹17.5 crore in the equity of TI Tsubamex, a joint venture between Tube Investments and Tsubamex Co Ltd, Japan. TI Tsubamex became a subsidiary following allotment of 1,75,00,000 equity shares of the face value of ₹10 each in the share capital of TTPL on Thursday. Tube Investments holds 75 per cent of the stake and Tsubamex 25 per cent of equity share capital.
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