JBM Ecolife raises Rs 900 crore from Motilal Oswal Fund for biz expansion

JBM Ecolife Mobility has raised Rs 900 crore from Motilal Oswal Fund, comprising Rs 450 crore of structured debt priced at around 13% with a 4-5 year tenure and Rs 450 crore of equity-linked capital. The capital infusion will enable the company to scale its electric bus platform from about 2,000 buses currently to nearly 5,000 buses over the next few years and participate in large electric bus tenders.