We represented TI Clean Mobility Private Limited (‘TICMPL’) (a wholly owned subsidiary of Tube Investments of India Limited (‘TII’) engaged in the electric vehicle segment, and part of the Murugappa Group) in its proposed fundraise of approximately INR 1,275 crore from Multiples Alternate Asset Management, State Bank of India and TII. Multiples and/ or its affiliates along with other investors will have a right to invest an additional INR 600 crore, and the proposed transaction is a part of TICMPL’s plan to raise INR 3,000 crore by end of March 2024.
