Electric bus maker PMI looking to sell stake to strategic investor/PE fund

PMI Electro Mobility Solutions, one of the largest electric bus makers in the country, is looking for a strategic investor/private equity fund to pick up a stake in the company. An independent financial advisor has valued the company at Rs 2,000-2500 crore, the company said.

Confirming the move, Manvi Jain, Head-Corporate Affairs, PMI Electro Mobility Solutions, said: “We are looking at equity dilution and talking to funds for a stake in PMI, as we see volumes going up year on year. We have approached a financial consultancy, which has valued us at Rs 2,000-2500 crore based on our revenue projections.”