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Tube Investments invests in Chola DBS
CHENNAI: Tube Investments of India has invested Rs. 150 crore in Cholamandalam DBS Finance. The investment is done through subscription to the one per cent fully convertible cumulative preference shares (FCCPS) of Cholamandalam DBS, issued on a preferential basis. The FCCPS are convertible into equity shares within 18 months from the date of allotment. The foreign partner of Chola DBS has also brought in a similar amount into the company through the similar mode. According to top company officials, the shares have since been allotted to both Tube Investments and DBS. — Special Correspondent
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