Tata Motors announced that TPG RISE Climate TopGun (TPG), a private equity fund has subscribed to 3,75,00,000 Compulsorily Convertible Preference Shares of the face value of Rs 1,000/- each in Tata Passenger Electric Mobility, subsidiary of the company (Tranche I Investor Securities) on 30 March 2022, for an aggregate consideration of Rs 3750 crore as the first tranche of the potential investment aggregating Rs 7500 crore (proposed transaction).
Pursuant to the aforesaid, the Board of Directors of the Subsidiary has, on 30 March 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.
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