Tube Investments of India (TII) signed a Subscription Agreement to invest ₹250 Cr in subsidiary TI Clean Mobility Private Limited via CCPS.
TII will subscribe to 2.5 Cr Compulsorily Convertible Preference Shares at ₹100 face value each in TICMPL to scale electric mobility operations.
TII and TICMPL also entered into an Amended and Restated Shareholders' Agreement with TICMPL investors, covering board composition and investor rights.