Venture Intelligence (TSJ Media Pvt. Ltd.)
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Tube Investments invests Rs.250-Cr in EV arm TICMPL
BSE Announcement Business Line
Tube Investments of India Ltd (TIL) has invested INR 250 crore in its subsidiary, TI Clean Mobility Pvt Ltd (TICMPL), through Compulsorily Convertible Preference Shares (CCPS).TICMPL, which operates in the electric mobility segment, plans to use these proceeds to expand its operations and those of its subsidiaries.TIL currently holds 25 crore equity shares with a face value of INR 10 each and 5 crore Series B CCPS with a face value of INR 100 each in TICMPL.
Between Feb 2023 and Jun 2024, TI Clean Mobility had attracted about USD 309 M from GEF Capital Partners, Multiples and others.For FY25, TI Clean Mobility had reported about INR 274 Cr in Operating Income and about INR 806 Cr in Net Loss.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.