Key Quantitative Figures
- Acquisition of 5,100 equity shares of face value of ₹10 each
- 51% shareholding acquired
- Cash consideration (exact amount not disclosed)
Dates of Action
- Acquisition completed as of disclosure date (November 02, 2026)
- BTM Mobility incorporation date: September 16, 2025
- Disclosure signed and dated: November 02, 2026 at 15:25:15 +05:30
Parties Involved
Acquirer: Atpole Technologies Private Limited (subsidiary of Bondada Engineering Limited)
Target: BTM Mobility Private Limited (formerly Thuraga Motors Private Limited)
CIN of Target: U30912TN2025PTC184526
Disclosure Signatory: Dr. Sonia Bidlan, Company Secretary & Compliance Officer (Membership No.: A37766)
Transaction Details
- Relationship with listed entity: Subsidiary acquisition
- Related party transaction: No
- Promoter/group company interest: No
- Arm's length transaction: Yes
- Government approvals required: No
- Consideration type: Cash
- Transaction status: Completed
Target Company Business Profile
BTM Mobility Private Limited is engaged in:
- Manufacturing and assembly of electric two-wheelers
- Production of associated components and original equipment
- Design and development of electric vehicle technologies
- The company represents strategic forward integration of BLDC motor manufacturing capabilities
Strategic Significance
The acquisition enables Bondada Group's strategic expansion into electric two-wheeler manufacturing by leveraging:
- BTM Mobility's established design and development capabilities
- Intellectual property portfolio
- Business credentials and existing order pipeline
- Longstanding empanelment and relationships with various organizations and institutions
- Alignment with Government of India's Viksit Bharat and Make in India initiatives