Other Private Equity/Strategic Investments
Electric 3-wheeler maker Keto motors to list via Taza Intnl reverse merger; Tron Energy picks stake
Mumbai-based Keto Motors , an electric three-wheeler OEM, is set to go public through a reverse merger with listed entity Taza International. Concurrently, Taiwan-based Tron Energy Technology is investing in Keto Motors as a strategic investor and technology partner. Tron Energy will acquire about a 10% stake in Keto Motors, valuing the company at about INR 350-500 crore. The merger involves a swap ratio of three Taza shares for every two Keto shares, leading to the issuance of 5.6 crore new shares.Keto Motors plans to leverage this partnership to enter India’s electric bus segment. The collaboration will provide Keto Motors with access to electric bus platforms, drivetrain architectures, and battery systems. Keto Motors has raised approximately INR 50 crore from investors, including Tron, and is in talks to raise an additional INR 150 crore for its manufacturing initiatives.
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