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 TII Declares Special Interim Dividend & Stock Split
Tube Investments of India
Tube Investments of India
CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED
(Formerly, TI Financial Holdings Limited)
TII Declares Special Interim Dividend & Stock Split
 

23rd March, 2006

The Board of Directors of Tube Investments of India Limited (TII) met today and declared a ”Special Interim Dividend” of 175% (Rs.17.50 per equity share of Rs.10/-) for the financial year ending 31st March 2006. In view of the significant size and one-time nature of the profit on sale of long-term investments, the Board considered appropriate to distribute a part of the profits to shareholders.

The Board also approved, subject to the approval of the shareholders, the sub-division (stock split) of the equity share of Rs.10/- each into 5 (five) equity shares of Rs.2/- each.

Mr. Sumit Banerjee has been appointed as Managing Director of the Company with effect from 17th April 2006.

TII consists of: TI Cycles of India, Tube Products of India, TI Metal Forming and TIDC India. In bicycles, TII is the second largest manufacturer with well known brands - Hercules, BSA and Philips. TII is the market leader in precision steel tubes and car doorframe in India. Also, being the second largest motor cycle chain manufacturer in India, TII is a major supplier to the Indian auto component industry.

TII is a part of the Rs.6,250 crores Murugappa Group, which has a strong presence in engineering, bio-products, sanitary ware, plantations, sugar, farm inputs, finance, general insurance and nutraceuticals. Murugappa Group is a pioneer and market leader in several fields with operations across 12 States in India.

 

For further information please contact:

Mr. K Balasubramanian
Ph: 044 - 4211 0505
E-mail: BalasubramanianK@tii.murugappa.com

 

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