Tube Investments of India Limited has informed the Exchange about Acquisition of equity shares by M/s. TI Clean Mobility Private Limited, subsidiary company in M/s. TIVOLT Electric Vehicles Private Limited
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Tube Investments of India announced that its subsidiary TI Clean Mobility Private Limited (TICMPL) has acquired the remaining 5.45% stake (3 crore equity shares) in TIVOLT Electric Vehicles Private Limited for a cash consideration of Rs. 30 crore, effective 31st March 2026. With this, TIVOLT has become a wholly owned subsidiary of TICMPL. TIVOLT, incorporated in 2023, manufactures and sells electric small commercial vehicles (e-SCVs) in India, with an equity base of Rs. 550 crore and revenue of Rs. 81.55 crore for the nine months ended December 2025, up from Rs. 5.21 crore in FY25. The transaction was carried out at arm's length to consolidate operational control within the group.
This is an internal group restructuring with a small cash outlay (Rs. 30 crore) and is unlikely to materially impact shareholders. It strengthens Tube Investments' control over its EV subsidiary TIVOLT, streamlining decision-making in the electric small commercial vehicle business.