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Tube Investments of India’s arm enters into agreements to acquire 65.2% stake in IPLT

19 Jul 2022 Evaluate

Tube Investments of India’s wholly owned subsidiary -- Tl Clean Mobility (TICMPL) has entered into definitive agreements for acquisition of 65.2% in the equity share capital of IPLTech Electric (IPLT), through a combination of purchase of equity shares from the founders and other existing shareholders of IPLT and by way of subscription to fresh equity shares, for an aggregate consideration of up to Rs 246 crore. IPLT is a startup engaged in manufacturing and sale of electric heavy commercial vehicles. The aforesaid acquisition is subject to the satisfactory completion of the conditions precedents as contained in the aforesaid definitive agreements entered into.

The acquisition is expected to be completed on or before October 31, 2022, subject to satisfactory completion of the Conditions Precedents as contained in the Agreements executed between the parties.

Tube Investments of India was formed by merging TI Cycles of India and Tube Products of India. The company is in to the business of manufacturing metal products.

Tube Investments Share Price

2789.65 33.55 (1.22%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 125.00
Tube Investments 2789.65
Bosch 37505.60
UNO Minda 1097.30
CIE Automotive India 490.15
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