1 / 1

TPG to invest 1 billion in Tata Motors' electric vehicle subsidiary

Read more about TPG to invest $1 billion in Tata Motors' electric vehicle subsidiary on Business Standard. The EV business in the commercial vehicles segment will remain with the parent company and is out of the purview of this deal<br>

solankimeera71
Download Presentation

TPG to invest 1 billion in Tata Motors' electric vehicle subsidiary

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. TPG to invest $1 billion in Tata Motors' electric vehicle subsidiary In a boost to its electric vehicle (EV) push, Tata Motors on Tuesday closed a deal to raise Rs 7,500 crore from TPG Rise Climate and Abu Dhabi’s ADQ. This is the first major fundraising by an Indian carmaker to push clean mobility. The investment will be in a newly formed subsidiary Tata Motors has formed for the EV business. The Rs 7,500 crore (close to $1 billion) will give a stake of 11-15 per cent stake to the TPG-ADQ combine in this subsidiary. Bank of America was the advisor to TPG Rise Climate, and Morgan Stanley and JP Morgan have advised Tata Motors’ EV unit. The group is the leading player in the EV business with more than a 70 per cent market share. Chief Financial Officer P B Balaji said the company would invest more than Rs 16,000 crore over next five years. The investors will be issued compulsorily convertible instruments over an 18-month period. Investment will be made in tranches. Read More

More Related