Tube Investments Pumps ₹250 Crore into EV Unit TICMPL through CCPS Investment.

Tube Investments of India Ltd (TIL) recently announced that it will invest approximately ₹250 crore in its electric mobility subsidiary, TI Clean Mobility Private Limited (TICMPL), through Compulsorily Convertible Preference Shares (CCPS).

According to a filing with the stock exchange, TICMPL will use the funds to expand its operations as well as those of its subsidiaries.

TIL currently holds 25 crore equity shares of ₹10 each and 5 crore Series B CCPS of ₹100 each in TICMPL, the filing added.