Tube Investments subsidiary TI Clean Mobility acquires 70% stake in Cellestial E-Mobility; Stock gains ~1%

7 Mar 2022 , 01:46 PM

Tube Investments of India Limited’s wholly-owned subsidiary company TI Clean Mobility Private Limited acquired 70% stake in Cellestial E-Mobility Private Limited.  The company acquired 1,41,677 equity shares of the face value of Rs10/- each, representing about 70% of the subscribed and paid up share capital of Cellestial.

The Murugappa Group company in January 2022 had entered into share subscription and purchase agreement with Cellestial E-Mobility, for the said transaction.

At around 1.50 pm, Tube Investments of India Ltd was trading at Rs1,503.10 per piece up by Rs13.65 or 0.92% from its previous closing of Rs1,489.45 per piece on the BSE.