Tube Investments of India Poised to Acquire Major Stake in KCAL for Rs 62 Crore

Tube Investments of India Ltd plans to acquire 67% equity in KC Altech’s Indian arm for Rs 62 crore. This strategic move aims to bolster its presence in the automotive sector by expanding capabilities in aluminium tubes for HVAC systems. The acquisition is set to finalize by January 2025.

Tube Investments of India Ltd, a part of the Murugappa Group, announced plans to acquire a 67% equity stake in KC Altech's Indian subsidiary for Rs 62 crore.

This strategic acquisition is expected to enhance TII's footprint in the automotive sector, particularly in the manufacturing of aluminium tubes and parts for automobile HVAC systems.

The transaction is anticipated to conclude by January 31, 2025, pending satisfactory completion of required conditions, according to TII's regulatory filings.

(With inputs from agencies.)