Murugappa agency to spend money on CG Power


New Delhi: Murugappa Group agency Tube Investments of India Ltd (TIIL) will make investments Rs 700 crore in CG Power and Industrial Solutions Ltd for a 51% stake, the scam-hit firm stated on Friday. TIIL can be issued 64.25 crore shares at Rs 8.56 apiece aggregating to Rs 550 crore, CG Power stated. Also, TIIL will make investments Rs 150 crore over the subsequent 18 months within the type of shopping for warrants that may be transformed into shares. PTI



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