TI Clean Mobility Gets ₹250 Crore Boost to Drive EV Expansion

Tube Investments of India Ltd (TIL) has announced plans to invest around ₹250 crore in its electric mobility arm, TI Clean Mobility Private Limited (TICMPL), through Compulsorily Convertible Preference Shares (CCPS).

In a stock exchange filing, the company said the funds will be utilised to support the expansion of TICMPL and its subsidiaries, strengthening its presence in the electric mobility segment.

TIL currently holds 25 crore equity shares of ₹10 each and 5 crore Series B CCPS of ₹100 each in TICMPL, the filing added.

News by Rahul Yelligetti.