Acquisitions31 March 2026 at 05:01 pm
Tube Investments of India Ltd Subsidiary Acquires 100% Stake in TIVOLT Electric Vehicles for Rs. 30 Cr.
AI Summary
Tube Investments of India Ltd (TII) announced that its subsidiary, TI Clean Mobility Private Limited (TICMPL), has acquired the entire remaining stake held by the other shareholder in TIVOLT Electric Vehicles Private Limited (TIVOLT). The acquisition, which was completed on 31st March 2026, was for a consideration of Rs. 30 Cr. TIVOLT, which was incorporated in 2023, is engaged in the manufacture and sale of electric small commercial vehicles (e-SCV) in India. The acquisition will enable TICMPL to consolidate its holding and have better operational control.
Key Highlights
- TI Clean Mobility Private Limited, a subsidiary of Tube Investments of India Ltd, acquires 100% stake in TIVOLT Electric Vehicles Private Limited.
- The acquisition was completed on 31st March 2026 for a consideration of Rs. 30 Cr.
- TIVOLT is engaged in the manufacture and sale of electric small commercial vehicles.
- The acquisition will enable TICMPL to consolidate its holding and have better operational control.
- TIVOLT was incorporated in 2023 and has a turnover of Rs. 81.55 Cr. (Unaudited YTD December 2025)