Tube Investments of India Ltd Invests Rs. 250 Cr. in TI Clean Mobility Private Ltd

Tube Investments of India Ltd (Tll) has entered into a Subscription Agreement for subscription towards Compulsorily Convertible Preference Shares (CCPS) amounting to approximately Rs. 250 Cr. in its subsidiary, TI Clean Mobility Private Ltd (TICMPL). This investment will help scale up the operations of TICMPL and its subsidiaries in the electric mobility business. The agreement also includes an Amended and Restated Shareholders' Agreement between Tll, TICMPL, and the investors. The closing of the transaction is subject to satisfactory completion of the Conditions Precedents as contained in the agreements executed between the parties.