Tube Investments Invests ₹250 Cr in Clean Mobility Subsidiary

Tube Investments of India Ltd (TII) has made an incremental investment of approximately ₹250 crore in its subsidiary, TI Clean Mobility Private Limited (TICMPL). The investment was made through the subscription of Compulsorily Convertible Preference Shares (CCPS). TII also entered into an Amended and Restated Shareholders' Agreement with other investors of TICMPL. This funding is intended to help TICMPL, which operates in the electric mobility business, scale up its operations and those of its subsidiaries. The Series C CCPS were issued at a face value of ₹100 per share.