Tube Investments of India’s wholly owned subsidiary -- Tl Clean Mobility (TICMPL) has acquired 13,836 equity shares of the face value of Rs 10 each, representing about 65.2% of the subscribed and paid up equity share capital of IPLTech Electric (IPLT). IPLT is a startup engaged in manufacturing and sale of electric heavy commercial vehicles. Earlier, the company had entered into definitive agreements for this acquisition.
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.
