Tube Investments of India Limited — JV/Acquisition, 31-03-2026: Acquisition

Tube Investments of India's subsidiary, TI Clean Mobility (TICMPL), has acquired the remaining 5.45% stake in TIVOLT Electric Vehicles for Rs 30 Cr. This move makes TIVOLT, a key player in the electric small commercial vehicle (e-SCV) business, a wholly-owned subsidiary of TICMPL. The acquisition aims to fully consolidate TICMPL's control, enhancing operational efficiency and strengthening its position in the rapidly expanding EV market. TIVOLT reported a turnover of Rs. 81.55 Cr year-to-date December 2025, highlighting its growth potential.