TPG subscribes to 37.5 mn shares in Tata Passenger Electric Mobility

Tata Motors on Wednesday, said TPG RISE Climate TopGun (TPG), a private equity fund, has subscribed to 3,75,00,000 compulsorily convertible preference shares of the face value of Rs 1,000 each in its subsidiary, Tata Passenger Electric Mobility.

This is for an aggregate consideration of Rs 3,750 crore as the first tranche of the potential investment aggregating Rs 7,500 crore, announced by the company in October 2021.