• Privacy Policy
  • About Us
  • Contact Us
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
Cartographeum
No Result
View All Result

TII acquires control ofCG Power

Juliet Woodard by Juliet Woodard
November 26, 2020
Home Business
Share on FacebookShare on Twitter

Tube Investments of India Ltd. (TII), a Murugappa group firm, has acquired controlling stake in CG Power and Industrial Solutions with allotment of equity shares and warrants. With the allotment of equity shares, TII holds 50.62% and CG Power has become its subsidiary. As per the proposal, CG Power has allotted 64.25 crore equity shares of ₹2 each at a price of ₹8.56 (including premium) per share, for an aggregate sum of ₹550 crore, and 17.52 crore warrants amounting to ₹37.50 crore.TII has decided to raise ₹350 crore by issuing preferential shares on a private placement basis to Azim Premji Trust and SBI Mutual Funds. The Trust will be investing about ₹200 crore and SBI MF the remaining sum. The shares with a face value of ₹1 are being issued at a premium of ₹730.70 per share.The board of TII on Thursday accorded its approval for issue of TII equity shares on a preferential allotment/private placement basis to entities not belonging to the promoter or promoter group of the company. An EGM is convened on December 21 to get shareholders’ approval.

A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath

Juliet Woodard

Juliet Woodard

Next Post
Gold plunges ₹ 1,492, silver tanks ₹ 1,476

NPCI raises ₹81.64 cr. from 19 entities

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

Gold plunges ₹ 1,492, silver tanks ₹ 1,476

LVB receives non-binding offer from Clix

October 9, 2020
What Will The Pandemic’s Impact Be On The Real Estate Market?

What Will The Pandemic’s Impact Be On The Real Estate Market?

September 1, 2020

Trending.

Navigating Online Marketplaces? 12 Tips For Real Estate Newbies

Navigating Online Marketplaces? 12 Tips For Real Estate Newbies

January 13, 2021
Brookfield to buy 18% of RMZ’s assets for $2 billion

Brookfield to buy 18% of RMZ’s assets for $2 billion

October 19, 2020
Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

November 1, 2020
NPPA caps price of liquid medical oxygen, medical oxygen cylinders

NPPA caps price of liquid medical oxygen, medical oxygen cylinders

September 26, 2020
Left slams RBI proposal to give banking licences to corporates

Left slams RBI proposal to give banking licences to corporates

November 24, 2020

Cartographeum brings you the latest information about Tech,Real Estate & Business.

Follow Us

Categories

  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
  • Uncategorized

Tags

Amazon Apple Watch 2 Best iPhone 7 deals Bombay stock exchange BSE Business Buying Guides china closing trade coronavirus COVID-19 currency dollar rate economy Finance Ministry foreign exchange forex gold india indian economy Indian stock market Industry iOS 10 lockdown luxury homes market and exchange markets nifty Nirmala Sitharaman NSE oil pandemic Playstation 4 Pro rbi real estate Reserve Bank of India rupee rupee rate Rupee value rupee vs dollar sensex Sillicon Valley stock exchange Stocks USD

Recent News

Grand Yorkville Apartment Offers Front-Row Seat To The East River

Grand Yorkville Apartment Offers Front-Row Seat To The East River

January 23, 2021
What Does The Future Hold For REITs? Will They Become Warehouses, Offices Or Remain Multi-Channel Enterprises?

What Does The Future Hold For REITs? Will They Become Warehouses, Offices Or Remain Multi-Channel Enterprises?

January 22, 2021
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Review
  • Computers
  • Gear

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.