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TIDC becomes subsidiary of TI

MUMBAI: Tube Investments of India has informed the Bombay Stock Exchange that TI Diamond Chain (TIDC) has become a subsidiary of the company from March 25, consequent on the company acquiring 12.83 lakh (20.93 per cent) equity shares from Amsted Industries of the U.S., the foreign collaborator of TIDC. The company holds 43.43 lakh equity shares of Rs. 10 each representing 70.84 per cent of TIDC's equity capital.

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