Tube Investments of India’s arm to invest in electric small commercial vehicle business

Tube Investments of India Ltd. | Auto Ancillary | Automobiles | BSE: 540762 | NSE: TIINDIA

04 Jul 2023 Evaluate

Tube Investments of India’s subsidiary – M/s TI Clean Mobility (TICMPL) has entered into an agreement with Anand Jayachandran for pursuing electric small commercial vehicle business (e-SCV) through a subsidiary to be incorporated by TICMPL. TICMPL will be investing Rs 160 crore and Anand Jayachandran will be investing Rs 40 crore in the form of equity. TICMPL is looking at new platforms to broaden its product and business portfolio in the productive end of electric vehicles.

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.

Peers

Company Name	CMP
SamvardhanaMotherson	164.00
Tube Investments	2650.00
Bosch	48602.60
UNO Minda	1223.50
Motherson SumiWiring	36.32
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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