Tube Investments of India Limited has announced its strategic entry into the metal injection molding business through the acquisition of Orange Koi Private Limited. The company executed definitive agreements on 6th February 2026 for acquiring up to 87% equity stake in Orange Koi for an aggregate consideration of up to ₹73 crores, marking a significant expansion into precision manufacturing technologies.

Acquisition Structure and Financial Details

The acquisition involves a staggered approach combining both primary and secondary transactions. TII will acquire 18,64,778 equity shares representing up to 87% of Orange Koi's equity share capital through a combination of purchasing shares from existing shareholders and subscribing to fresh equity shares.

Target Company Profile

Orange Koi Private Limited, incorporated on 11th December 2020, specializes in manufacturing precision parts for medical and defence industries using advanced technologies including metal injection molding and additive manufacturing. The company has demonstrated strong growth trajectory over the past three years.

Strategic Rationale

According to the company's disclosure, TII has identified metal injection molding as a strategic business opportunity with potential in both automotive and non-automotive industries. The acquisition aligns with the company's long-term growth strategy and represents diversification into adjacent business segments that complement its core engineering expertise.

Mr. Mukesh Ahuja, Managing Director of TII, emphasized the strategic value of combining TII's engineering expertise and customer relationships with Orange Koi's specialized technologies and innovation culture to create a strong platform for next-generation precision manufacturing.

Regulatory Compliance

The transaction has been structured as a non-related party transaction, with no promoter or group company interests in the target entity. The acquisition is subject to satisfactory completion of conditions precedent contained in the Securities Subscription and Purchase Agreement and Shareholders' Agreement executed between the parties. No governmental or regulatory approvals are required for this acquisition.

Business Integration

The proposed investment will support Orange Koi's expansion plans, including increasing manufacturing capabilities in the metal injection molding segment. This acquisition positions TII to leverage advanced manufacturing processes for producing high-performance complex metal parts across medical, defence, and industrial applications, expanding its presence beyond traditional automotive and engineering sectors.

SMALLCAP World Fund, Inc. has significantly reduced its shareholding in Tube Investments of India Ltd through open market transactions, as disclosed under SEBI's substantial acquisition regulations. The fund sold 46.42 lakh shares on 28 January 2026, marking a notable divestment in the engineering and automotive components manufacturer.

Shareholding Changes

The transaction details reveal a substantial reduction in SMALLCAP World Fund's position in the company:

Transaction Details

The fund executed the share sale through open market transactions, representing a net disposal of 2.41% of the company's total voting capital. The transaction occurred against the backdrop of the company's equity share capital increasing from 19.34 crore shares to 19.38 crore shares.

Regulatory Compliance

The disclosure was filed under Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. SMALLCAP World Fund is not part of the promoter or promoter group of Tube Investments of India Ltd, which is listed on BSE Limited and National Stock Exchange of India.

Fund Management

The regulatory filing was signed by Christopher J. Salo, Vice President of Fund Business Management Group at Capital Research and Management Company, which serves as the investment adviser for SMALLCAP World Fund, Inc. The disclosure was executed from Los Angeles, California on 30 January 2026.

The transaction reflects the fund's portfolio rebalancing strategy, reducing its exposure in the Indian engineering and automotive components sector through this significant divestment in Tube Investments of India Ltd.