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Azim Premji Trust and SBI Mutual Fund to invest $48m in Muruguppa-backed Tube Investments.

Financials

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Transaction Value£35m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Friendly

Public

Single Bidder

Minority

Pending

India

Diversified Industrials

Private Equity

Acquisition

Domestic

engineering company

Synopsis

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Investment firms Azim Premji Trust and SBI Mutual Fund agreed to invest $48m in Tube Investments, a Murugappa Group company that specializes in engineering, bicycles, metal formed products, and chains. An extraordinary general meeting will be held on 21 December to seek approval from the shareholders for the allotment.

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