31 Mar 2022 , 10:53 AM
The Board of Directors of the Subsidiary has, on March 30, 2022, accorded its approval for the allotment of the Tranche I Investor Securities to TPG as per the terms and conditions of the Proposed Transaction.
Tata Motors had executed a Securities Subscription Agreement (SSA) dated October 12, 2021, with TPG Rise, a private equity fund, for a potential investment aggregating to Rs7,500 crore (Proposed Transaction) and incorporation of a wholly owned subsidiary of the Company, viz., Tata Passenger Electric Mobility Limited.
At around 10.47 am, Tata Motors Ltd was trading at Rs437.80 per share up by Rs2.15 or 0.49% from its previous closing of Rs435.65 per share on the BSE.
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