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Murugappa Group company Tube Investments NSE 0.83 % of India will be investing Rs 700 crore to acquire 51% stake in the scam-hit CG Power and Industrial Solutions, the latter informed the bourses on Friday. CG Power informed the bourses that its board has approved the execution of a securities subscription agreement with Tube Investment, which will entail an investment of Rs 550 crore in equity shares and Rs 150 crore in convertible convertible warrants over the next 18 months.

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