Tinna Rubber and Infrastructure Limited has informed the Exchange that Pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015, as amended, the Company has infused additional Investment of Rs. 1,80,06,311 for acquisition of 35,86,310 ordinary Shares of @ Rand 1 each in Mbodla Investments Pty Ltd, South Africa, Joint Venture. Post additional funding the stake of the company will remain 49% in the aforesaid Joint Venture.
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Tinna Rubber and Infrastructure Limited has made an additional investment of Rs. 1,80,06,311 (about US$ 2,04,815) in its South Africa-based joint venture, Mbodla Investments (Pty) Ltd, by acquiring 35,86,310 ordinary shares at Rand 1 each. After this infusion, the company's stake in the JV stays at 49%, with total holdings rising to 60,36,800 shares. The JV is engaged in recycling used motor vehicle tyres and manufacturing/export of crumb rubber and allied products, though it currently has nil turnover. This is a related party transaction as the JV is considered a related party, and the consideration is paid in cash.
This is a follow-on capital infusion into an existing JV rather than a new acquisition, so the ownership level (49%) does not change. For shareholders, it signals continued commitment to the South African tyre-recycling venture, but with zero revenue so far, the investment carries execution and ramp-up risk with no immediate earnings benefit.