TI Clean Mobility Raises Rs 310 Crore from M&G Investments
ECONOMY & POLICY

TI Clean Mobility Raises Rs 310 Crore from M&G Investments

TI Clean Mobility Pvt Ltd, a subsidiary of Tube Investments of India Ltd, has signed definitive agreements with M&G Investments to raise capital amounting to Rs 310 crore. This investment will bring the total funds raised by TI Clean Mobility, a part of the diversified conglomerate Murugappa Group, to Rs 2,840 crore.

The company had planned to raise a capital of Rs 3,000 crore to support its various electric vehicle business verticals. The latest round of funding, announced on Wednesday, involves equity and compulsorily convertible preference shares, as confirmed by the agreements signed on June 5.

We are happy to announce the participation of M&G in providing an impetus to our commitment to delivering EV solutions for commercial mobility. Together, we stride towards a cleaner future and smarter transportation, said S. Vellayan, Vice Chairman of TI Clean Mobility Pvt Ltd.

TI Clean Mobility offers a range of heavy commercial vehicles and is in the advanced stages of developing electric tractors and electric small commercial vehicles.

Praveg Patil, Head of Asia Pacific at M&G, expressed enthusiasm about the investment, stating, M&G is pleased to invest in one of India's fastest-growing commercial electric vehicle manufacturers, TI Clean Mobility, part of the Murugappa Group. We are excited by the potential of this investment to reduce fossil fuel dependency and decarbonize substantial parts of India's commercial vehicle fleets.

Kotak Investment Banking served as the exclusive financial advisor for this transaction.

TI Clean Mobility Pvt Ltd, a subsidiary of Tube Investments of India Ltd, has signed definitive agreements with M&G Investments to raise capital amounting to Rs 310 crore. This investment will bring the total funds raised by TI Clean Mobility, a part of the diversified conglomerate Murugappa Group, to Rs 2,840 crore. The company had planned to raise a capital of Rs 3,000 crore to support its various electric vehicle business verticals. The latest round of funding, announced on Wednesday, involves equity and compulsorily convertible preference shares, as confirmed by the agreements signed on June 5. We are happy to announce the participation of M&G in providing an impetus to our commitment to delivering EV solutions for commercial mobility. Together, we stride towards a cleaner future and smarter transportation, said S. Vellayan, Vice Chairman of TI Clean Mobility Pvt Ltd. TI Clean Mobility offers a range of heavy commercial vehicles and is in the advanced stages of developing electric tractors and electric small commercial vehicles. Praveg Patil, Head of Asia Pacific at M&G, expressed enthusiasm about the investment, stating, M&G is pleased to invest in one of India's fastest-growing commercial electric vehicle manufacturers, TI Clean Mobility, part of the Murugappa Group. We are excited by the potential of this investment to reduce fossil fuel dependency and decarbonize substantial parts of India's commercial vehicle fleets. Kotak Investment Banking served as the exclusive financial advisor for this transaction.

Next Story
Infrastructure Urban

Coal Ministry Achieves Milestones under Special Campaign 5.0

The Ministry of Coal and its Public Sector Undertakings (PSUs) have achieved notable milestones under the Special Campaign 5.0, focusing on cleanliness, operational efficiency, and sustainability across the coal sector. During the implementation phase from 2–31 October 2025, over 1,205 sites were cleaned, covering 68,04,087 sq ft, nearing the target of 82,51,511 sq ft. Scrap disposal of 5,813 MT against a target of 8,678 MT generated Rs 228.7 million in revenue. In addition, 1,11,248 physical and 30,331 electronic files were reviewed, with 74,123 weeded out or closed. Key initiatives showc..

Next Story
Infrastructure Energy

Vesting Orders Issued for Three Coal Blocks under Commercial Auctions

The Ministry of Coal’s Nominated Authority has issued vesting orders for three coal blocks under commercial coal block auctions on 23 October 2025. The Coal Mine Development and Production Agreements (CMDPAs) for these mines were earlier signed on 21 August 2025. The three blocks include Rajgamar Dipside (Deavnara), Tangardihi North, and Mahuagarhi. Of these, two are partially explored while one is fully explored, with a combined peak rated capacity of around 1 MTPA and geological reserves of approximately 1,484.41 million tonnes. These mines are expected to generate annual revenue of abou..

Next Story
Infrastructure Urban

TEC, IIT-Hyderabad Partner to Boost 6G and Telecom Standards

The Telecommunication Engineering Centre (TEC), technical arm of the Department of Telecommunications (DoT), has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology Hyderabad (IIT Hyderabad) for joint research and technical collaboration in advanced telecom technologies and standardisation. The partnership focuses on developing India-specific standards and test frameworks for next-generation networks, including 6G, Artificial Intelligence (AI), and Non-Terrestrial Networks (NTNs). It also aims to enhance India’s participation in international standardisation f..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?