Tube Investments of India Eyes Expansion with New Investment in 3xper Innoventure.

Tube Investments of India Ltd (TII) has announced fresh investments in its subsidiary 3xper Innoventure Ltd, committing ₹75 crore as part of a broader capital infusion aimed at expanding the unit’s operations.

The Chennai-based company has entered into an agreement with 3xper and its CEO, N Govindarajan, who will invest an additional ₹25 crore. The combined ₹100 crore investment will be made through subscription to Compulsorily Convertible Preference Shares (CCPS), issued at a face value of ₹100 each, according to a stock exchange filing.

3xper operates in the contract development and manufacturing (CDMO) segment of the pharmaceutical industry. TII said the proposed fundraise is intended to support the scaling up of 3xper’s operations, as well as those of its subsidiary, positioning the business for future growth.