Tube Investments of India’s wholly-owned subsidiary--- TI Clean Mobility (TICMPL) has entered into Share Purchase Agreement for acquisition of remaining 30.04% equity shares held by the founders of Cellestial E-Mobility for an aggregate consideration of up to Rs 50.90 crore. The proposed investment is part of TICMPL's plan to consolidate its holding in the electric tractors business. Post-acquisition, Cellestial will become wholly-owned subsidiary of TICMPL.
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.
