Tube Investments of India has completed its significant investment initiative in the electric mobility sector, with TI Clean Mobility Private Limited allotting 2.5 crore Series C Compulsorily Convertible Preference Shares on March 30, 2026, finalizing the ₹250 crore commitment to expand clean transportation operations.

Investment Completion and Share Allotment

Following the subscription agreement entered on March 30, 2026, TI Clean Mobility Private Limited has successfully allotted 2,50,00,000 Series C Compulsorily Convertible Preference Shares to Tube Investments of India on the same date. The company has filed the requisite disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Strategic Purpose and Business Focus

TI Clean Mobility Private Limited operates in the electric mobility business, and this fund raising initiative is designed to scale up operations of TICMPL and its subsidiaries. The investment represents Tube Investments of India's strategic commitment to strengthening its presence in the electric vehicle ecosystem.

Updated Shareholding Structure

TI Clean Mobility Private Limited is a subsidiary of Tube Investments of India. With the completion of this latest investment, TII's holdings in TICMPL have been enhanced significantly.

Regulatory Compliance and Agreement Framework

Alongside the subscription agreement, TII and TICMPL have entered into an Amended and Restated Shareholders Agreement with TICMPL investors. The agreement includes significant terms covering board composition, investor affirmative vote matters, information rights, pre-emption rights, right of first offer, tag along rights, conversion terms, non-compete and non-solicitation clauses.

The successful completion of this transaction demonstrates the company's confidence in the electric mobility market potential and commitment to clean transportation solutions. The allotment of Series C CCPS at face value of ₹100 per share marks a significant milestone in TII's electric mobility expansion strategy.

Tube Investments of India Limited has successfully obtained regulatory approvals from both major Indian stock exchanges for a significant promoter group reclassification. The company announced on March 24, 2026, that it has received no-objection letters from the National Stock Exchange of India Limited (NSE) and BSE Limited for reclassifying Algavista Greentech Private Limited from the promoter group category to the public category.

Regulatory Approval Details

The reclassification approval was granted under Regulation 31A of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. Both exchanges issued their respective no-objection letters on March 24, 2026, following the company's application submitted on February 05, 2026.

Entity Being Reclassified

The reclassification specifically involves Algavista Greentech Private Limited, which will transition from the "Promoter and Promoter Group Category" to the "Public Category." This change represents a fundamental shift in the entity's classification within the company's shareholding structure.

Exchange Communications

The NSE approval was communicated by Apeksha Raichura, Manager – Listing Compliance, while the BSE approval was signed by Jayshree Soni, Deputy Vice President - Listing Compliance, and Krishna Rathi, Deputy Manager- Listing Compliance. Both exchanges emphasized the company's obligation to ensure compliance with subsequent relevant disclosures of material events related to this reclassification.

Compliance Requirements

Following the approval, Tube Investments of India Limited is required to maintain compliance with all applicable provisions of Regulation 31A of SEBI (LODR) Regulations, 2015. The company must ensure proper disclosure of any material events related to this reclassification in accordance with regulatory requirements. The approval letters from both exchanges have been enclosed with the company's disclosure for stakeholder information and records.