Tube Investments of India Limited (TII) Diversifies into the Electronics and Components Business

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Source: Tube Investments

“Through our acquisition of Moshine Electronics Private Limited, we have diversified into the electronics components ecosystem which will enable us to fulfil the Atmanirbhar Bharat vision of our country”. - M.A.M Arunachalam, Chairman, Tube Investments India Ltd

July 2022 : Tube Investments of India Limited (“The Company”) has recently diversified into manufacturing electric vehicles in line with its long-term business growth plans and created multiple lines of new business and revenue streams to maintain its growth trajectory.

The Company has identified electronic products and components as a growth vector. India is a major importer of electronic items and parts. Recent policy initiatives from the Government of India offering Production Linked Incentives and Phased Manufacturing Programs are expected to boost the indigenization of this growing segment.

The Company has executed a Share Purchase and Shareholders’ Agreement to acquire 76% equity stake in MEPL, a company manufacturing camera modules for mobile phones. The acquisition would be through the secondary purchase of shares for a total consideration of about Rs. 8.64 Cr. MEPL has its manufacturing facility in Noida.

Commenting on the acquisition, M.A.M Arunachalam, Chairman, Tube Investments India Ltd. said, “Through our acquisition of Moshine Electronics Private Limited, we have diversified into the electronics components ecosystem which will enable us to fulfil the Atmanirbhar Bharat vision of our country.”