TII to acquire stake in start-up Aerostrovilos

TII to acquire stake in start-up Aerostrovilos

The Hindu

Tube Investments of India Ltd. (TII) will be acquiring up to 25% stake in Aerostrovilos Energy Pvt. Ltd. for a cash consideration of ₹3.46 crore.AEPL is a start-up firm engaged in the development of m

Tube Investments of India Ltd. (TII) will be acquiring up to 25% stake in Aerostrovilos Energy Pvt. Ltd. for a cash consideration of ₹3.46 crore.

AEPL is a start-up firm engaged in the development of micro gas turbine technology for power generator and automotive application. The deal is expected to be completed within 30 days.

On Wednesday, TI entered into a Share Subscription Agreement with AEPL for acquisition of 4,151 equity shares at ₹8,335.48 per share from its promoters and existing shareholders.

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