Tube Investments of India’s subsidiary -- M/s. TI Clean Mobility (TICMPL) has completed acquiring 64,17,278 equity shares of the face value of Rs 10 each, representing 50% of the subscribed and paid up equity share capital of Jayem Automotives (Jayem).
Jayem is an automotive research & development company engaged in design, development, testing and manufacturing of a wide range of automotive components, systems and prototypes. The proposed acquisition by TICMPL is to augment its research & development capabilities and 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.
