The company has bought 20,64,713 equity shares of Shanthi Gears via a block deal on Friday, which represents 2.69 per cent. Tube Investments acquired the shares for Rs 77.49 crore, the company said in a stock exchange filing.
The acquisition was done as part of the long-term investment plans of Tube Investments, the company said.
Post the transaction, Tube Investments stake in Shanthi Gears increased to 73.16 per cent from 70.46 per cent.
Shanthi Gears Ltd, a listed subsidiary of the Company is engaged in the business of design and manufacture of Gears, Gear boxes, Geared Motors, and Gear Assemblies, refurbishing & repairing of gear boxes.
As on 31 March 2026, the turnover of Shanthi Gears was Rs.518.72 crore.
