CG Power board approves Rs 1 billion additional infusion by Tube Investment

The Board of CG Power and Industrial Solutions has approved the offer of additional investment of Rs 1 billion by Tube Investments.

As per CG Power, it had received a letter dated August 30 from Tube Investments of India indicating their offer to infuse additional capital in the company aggregating up to around Rs 1 billion by way of subscribing to additional equity shares of the company on a preferential allotment basis. Further, Tube Investments has offered additional investment to help the company meet its liabilities, stabilising its operations and improving its liquidity position.

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