Friday , September 30 2022

TPG will invest $ 7,500 cr Rs in the Tata Motors EV arm



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MUMBAI: TPG Rise Rs will invest. Tata Motors, in an exchange document, said there were 7,500 million crore companies newly established and fully owned for electric mobility.

The company’s board has approved the creation of a new subsidiary to conduct electrical work in India in preparation for competition with Tesla.

Tata Motors also said that the arm will issue 50 million A1 compulsory convertible preferred shares and 25 million A2 compulsory convertible preferred shares to TPG Rise worth 7500 million Rs.



CCPS will help TPG Rise secure a 11-15 percent stake in the new subsidiary with a share value of up to $ 9.1 billion. TPG will be able to pay about $ 1 billion over the next 18 months for Tata Motors’ new stake in Tata EVC.

“Once TML EVCo is incorporated, Tata Motors and TPG Rise Climate will enter into a shareholder agreement as a condition of the proposed transaction,” Tata Motors said in a statement.

CCPS will help TPG Rise secure a 11-15 percent stake in the new subsidiary with a share value of up to $ 9.1 billion. TPG will be able to pay about $ 1 billion for its stake in Tata Motors’ new subsidiary Tata EVC in the next 18 months.

“Once TML EVCo is incorporated, Tata Motors and TPG Rise Climate will enter into a shareholder agreement as a condition of the proposed transaction,” Tata Motors said in a statement.

Tata Motors Chairman N. Chandrasekaran said, “I am delighted that TPG Rise Climate has joined us on our journey to build the electric passenger mobility business that is shaping the market in India.”

Chandrasekaran added: “We will continue to actively invest in exciting products while creating a synergistic ecosystem that satisfies customers.”

The company expects the first turnover to be completed by March 2022 and all funds to be disbursed by the end of 2022.

Morgan Stanley and JP Morgan were joint financial advisers to Tata Motors, while BofA Securities India represented TPG Rise Climate for the operation.

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