Tube Investments of India Ltd Announces Acquisition Of Equity Shares Of Shanthi Gears Limited

Tube Investments of India Ltd announced that it has acquired 21,246,122 equity shares of INR1 each of Shanthi Gears Limited, Coimbatore (SGL) from its shareholders, representing 26% of SGL’s share capital, pursuant to the Open Offer made by the Company under Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. Further the Company has informed that, SGL has become a subsidiary of the Company, effective from November 19, 2012, as the Company’s shareholding in SGL aggregates 57,296,413 equity shares of INR1 each, representing 70.12% of SGL’s share capital.