Announced
Completed
Financials
Sources
Tags
India
Minority
electric vehicles
Private
Automobiles
Friendly
Private Equity
Acquisition
Domestic
Completed
Synopsis
Multiples, a private equity firm, and SBI, a multinational public sector bank and financial services statutory body, completed the acquisition of a stake in TI Clean Mobility, a company that manufacture and marketing of electric three-wheelers in the passenger auto and cargo segments, for $236m. “We are privileged and excited to partner with the Murugappa group in its journey to build India’s leading electric commercial vehicle OEM," Renuka Ramnath, Multiples Alternate Asset Management Founder, Managing Director and CEO.
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