GEF Capital Partners invests INR 580 crore in TI Clean Mobility (TICMPL) for EV expansion.
Murugappa Group's electric vehicle arm TI Clean Mobility raises INR 580 crore from GEF Capital Partners through equity and compulsorily convertible preference shares (CCPS). GEF is known for its commitment to environmental stewardship. This investment will help TICMPL scale up its EV operations, as it aims to raise INR 3,000 crore for various verticals of EVs, with the current fundraising total at INR 2,530 crore.
May 06, 2024
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