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Tube Investments of India has informed the stock exchanges that TI Tsubamex Private Ltd (TTPL) has become its subsidiary following the allotment of 1.75 crore shares of the latter. TTPL is a joint venture company with Tsubamex Company (Tsubamex) of Japan. Tube Investments and Tsubamex will hold 75 per cent and 25 per cent respectively in TTPL's equity share capital. Earlier, shareholders of the company had approved an investment of ₹17.5 crore in TTPL. Shares of Tube Investments weakened marginally ₹350.10 on the NSE.
The board of directors of V2 Retail on Thursday approved increase in authorised share capital of the company to ₹45.84 crore from ₹35.84 crore and alter the capital clause of MoA accordingly. The board also recommend to offer, issue and allot, in one or more tranches on preferential allotment basis, convertible warrants of value not exceeding ₹32.5 crore to be convertible at the option of warrant holders in one or more trenches to Bennett Coleman and Company, which is not part of promoter group. The stock of V2 Retail closed at ₹42.7, down 3.2 per cent on the BSE.
Cosmo Films has informed the exchanges that CF Global Holdings, the company's wholly owned subsidiary, has acquired the entire holding of minority shareholders in its step down subsidiary resulting into its step down subsidiaries becoming wholly owned. The company, however, did not provide any other details. Shares of Cosmo Films slipped 1.68 per cent at ₹79.20 on the NSE.
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