Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Tata Motors To Raise USD 1 Bn In Passenger EV Biz From TPG Rise Climate

Tata Motors Ltd (TML) and TPG Rise Climate have entered into a binding agreement under which TPG Rise Climate along with its co-investor ADQ

Photo Credit :

1583487614_tKNadQ_2020_03_06T092056Z_1_LYNXMPEG250P1_RTROPTP_4_TATA_MOTORS_ANTITRUST.JPG

Homegrown auto major Tata Motors on Tuesday said it will raise USD 1 billion (Rs 7,500 crore) in its passenger electric vehicle business at a valuation of up to USD 9.1 billion from TPG Rise Climate.

Tata Motors Ltd (TML) and TPG Rise Climate have entered into a binding agreement under which TPG Rise Climate along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated, the company said in a statement.

TPG Rise Climate along with co-investors shall invest Rs 7,500 crore in compulsory convertible instruments to secure between 11-15 per cent stake in this company translating to an equity valuation of up to USD 9.1 billion, it added.

(PTI)


Tags assigned to this article:
Homegrown auto major tata motors TPG Rise Climate