Adani Enterp. 2445.05↓-47.10(-1.89%)
Adani Ports 736.60↑4.55(0.62%)
Apollo Hospitals 4967.30↑153.05(3.18%)
Asian Paints 3237.25↓-3.45(-0.11%)
Axis Bank 926.10↑6.40(0.70%)
B P C L 360.05↓-4.50(-1.23%)
Bajaj Auto 4669.10↑25.50(0.55%)
Bajaj Finance 7023.90↓-16.60(-0.24%)
Bajaj Finserv 1457.25↑7.10(0.49%)
Bharti Airtel 836.50↑8.55(1.03%)
Britannia Inds. 4654.15↑18.90(0.41%)
Cipla 965.85↑1.10(0.11%)
Coal India 230.90↑0.55(0.24%)
Divi's Lab. 3511.60↓-13.80(-0.39%)
Dr Reddy's Labs 4610.45↑58.40(1.28%)
Eicher Motors 3699.40↓-16.65(-0.45%)
Grasim Inds 1710.55↑8.10(0.48%)
H D F C 2645.90↓-0.80(-0.03%)
HCL Technologies 1137.05↓-4.85(-0.42%)
HDFC Bank 1606.50↑2.50(0.16%)
HDFC Life Insur. 576.40↓-5.80(-1.00%)
Hero Motocorp 2892.65↑92.25(3.29%)
Hind. Unilever 2716.70↑18.80(0.70%)
Hindalco Inds. 420.75↑14.40(3.54%)
ICICI Bank 938.15↑2.05(0.22%)
IndusInd Bank 1288.20↓-1.95(-0.15%)
Infosys 1299.00↓-20.50(-1.55%)
ITC 443.40↑3.70(0.84%)
JSW Steel 706.60↑12.75(1.84%)
Kotak Mah. Bank 1938.75↑8.70(0.45%)
Larsen & Toubro 2234.55↑26.75(1.21%)
M & M 1341.40↑22.50(1.71%)
Maruti Suzuki 9485.35↑157.05(1.68%)
Nestle India 22046.45↑172.15(0.79%)
NTPC 174.55↑0.15(0.09%)
O N G C 154.70↑1.05(0.68%)
Power Grid Corpn 234.60↑1.60(0.69%)
Reliance Industr 2455.20↓-8.05(-0.33%)
SBI Life Insuran 1202.50↓-5.25(-0.43%)
St Bk of India 587.20↑4.45(0.76%)
Sun Pharma.Inds. 999.60↑11.90(1.20%)
Tata Consumer 796.05↑2.40(0.30%)
Tata Motors 535.90↑0.70(0.13%)
Tata Steel 108.00↑2.05(1.93%)
TCS 3305.60↓-18.40(-0.55%)
Tech Mahindra 1123.10↑2.30(0.21%)
Titan Company 2861.65↑34.40(1.22%)
UltraTech Cem. 7850.65↑7.85(0.10%)
UPL 683.35↑5.40(0.80%)
Wipro 404.95↓-2.20(-0.54%)

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

The EV business in the commercial vehicles segment will remain with the parent company and is out of the purview of this deal

Premium

The company said the first round of capital infusion would be completed by March 2022 and all the money will come by the end of 2022

4 min read Last Updated : Oct 13 2021 | 12:47 AM IST

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.