Tube Investments of India Limited (TII) on Friday acquired an additional 2.69 per cent stake in its listed subsidiary Shanthi Gears Limited (SGL) through a block deal on the stock exchange, taking its total shareholding in the gear manufacturer from 70.46 per cent to 73.16 per cent.
The Chennai-based company bought 20,64,713 equity shares of SGL at a face value of Re. 1 each, at a total cost of approximately ₹77.49 crore in an all-cash transaction. The acquisition was completed on August 21, 2026, following approval from TII’s Board of Directors at a meeting.
TII described the acquisition as part of its long-term investment plans. Shanthi Gears, incorporated on July 1, 1972, is engaged in the design and manufacture of gears, gear boxes, geared motors, gear assemblies, and the refurbishing and repairing of gear boxes. The company reported a turnover of ₹518.72 crore for FY 2025-26, down from ₹604.62 crore in FY 2024-25, though above the ₹536.05 crore recorded in FY 2023-24. SGL’s issued and paid-up equity share capital stands at ₹7.67 crore.
TII shares were trading at ₹2,889 on the NSE on Friday afternoon, down 1.40 per cent from the previous close of ₹2,930, with a market capitalisation of approximately ₹55,905 crore. The stock has gained around 10.11 per cent year-to-date but has declined 6.76 per cent over the past year. TII is a constituent of the Nifty Midcap 50 index and operates in the auto components and equipment sector.
Published on August 21, 2026
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