Private Equity Other Private Equity/Strategic Investments
Tube Investments to buy 25% in turbine tech co Aerostrovilos for Rs.3.46 Cr
Publicly listed Tube Investments of India Ltd. (TII) is to acquire a 25% stake in fellow Chennai-based Aerostrovilos Energy Pvt. Ltd. (AEPL), a startup developing micro gas turbine technology for power generation and automotive applications, for a cash investment of INR 3.46 crore. TII will acquire 4,151 equity shares of AEPL at INR 8,335.48 per share.
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From the Venture Intelligence PE-VC Deal Database: In Aug-2017, the IIT-Madras incubated AEPL had attracted funding from Mumbai Angels.