Tube Investments of India Limited (Tube Investment), a Murugappa Group entity, has recently raised INR 350 crore from SBI Mutual Funds and Azim Premji Trust.

SBI Mutual Fund, through its two schemes, SBI Focused Equity Fund and SBI Magnum Midcap Fund, has agreed to invest INR 150 crore whereas the remaining INR 200 crore will be invested by Azim Premji Trust.

Cyril Amarchand Mangaldas (CAM) acted as legal counsel to Tube Investments.

The team was led by Partners L Viswanathan and Gautam Gandotra, with support from Principal Associate Arnav Shah, and Associate Ananya Pandit.

Argus Partners acted for SBI Mutual Funds and the team included Vinod Joseph, Suchita Ambadipudi, Protiti Basu and Anurag Prasad.

Azim Premji was advised by its in-house team.