Deals & funding29 Sep 2026 · 4:16 PM
TIINDIATube Investments of India
Tube Investments completes ₹250 crore investment in EV arm TI Clean Mobility
Tube Investments has completed a ₹250 crore investment in TI Clean Mobility through 2.5 crore Series C compulsorily convertible preference shares of ₹100 each, after the agreed conditions were met.
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- Sector
- Auto & EV
What happened
- Tube Investments of India (TII) completed an investment of ₹250 crore in its Chennai-based subsidiary TI Clean Mobility Private Limited (TICMPL).
- It subscribed to 2.5 crore Series C compulsorily convertible preference shares (CCPS) with a face value of ₹100 each. Whalesbook's report of Tuesday's filing says the investment followed the completion of conditions set out in earlier subscription agreements; the investment was first announced on 30 March 2026.
- TICMPL and its subsidiaries make electric three-wheelers under the Montra Electric brand, electric tractors and electric commercial vehicles.
Why it matters
Good to know: Compulsorily convertible preference shares must turn into ordinary equity shares on terms fixed when they are issued.
Key facts
- Amount
- ₹250 crore
- Instrument
- 2.5 crore Series C CCPS of ₹100 each
- Subsidiary
- TI Clean Mobility, Chennai
Read the source
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