Debt Debt financing
Tube Investments invests Rs.250-Cr in subsidiary TI Clean Mobility
Source TI Clean Mobility (opens in a new tab)Business Line (opens in a new tab)BSE Announcement (opens in a new tab)
Chennai-based Tube Investments of India (TII) will invest INR 250 crore in its electric mobility subsidiary, TI Clean Mobility Pvt Ltd (TICMPL) through Series C Compulsorily Convertible Preference Shares (CCPS).Founded in 2022, TI Clean Mobility operates in the electric mobility space and plans to use the new funds to scale up its operations.Following this latest investment, the parent firm continues to maintain a significant stake in the company, having previously held 25 crore equity shares and five crore Series B CCPS.
Company website ↗ (opens in a new tab)
Between Feb 2023 and Jun 2024, TI Clean Mobility had attracted about USD 308.94 M from Multiples, GEF Capital Partners and others.For FY26, TI Clean Mobility had reported about INR 248 Cr in Operating Income and about INR 293 Cr in Net Loss.