Tube Investments of India Limited has informed the Exchange regarding 'Incremental Investment in TI Clean Mobility Private Limited'.
TIINDIA · price
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Tube Investments of India Limited (TII) is investing approximately Rs. 250 Crore in its subsidiary TI Clean Mobility Private Limited (TICMPL) by subscribing to 2.5 crore Compulsorily Convertible Preference Shares (CCPS) at face value of Rs. 100 each. TICMPL operates in the electric mobility business, and the funds will be used to scale up its operations and those of its subsidiaries. TII already holds 25 crore equity shares and 5 crore Series B CCPS in TICMPL, making it a continuing investor. Alongside this, TII and TICMPL have signed an Amended and Restated Shareholders' Agreement with existing investors, which includes terms like board composition, pre-emption rights, tag-along rights, and investor affirmative vote matters. The deal is subject to completion of customary conditions precedent.
This is a capital infusion into TII's own electric mobility subsidiary rather than a market-moving acquisition, so direct impact on TII's stock price is limited. However, it signals TII's continued commitment and financial backing to its EV business, which could support long-term growth in the clean mobility segment.