Tata Motors Arm Acquires 26% Stake In Mateshwari E-Smart Mobility

Tata Motors’ wholly owned subsidiary, TML Smart City Mobility Solutions Limited (TSCMSL), has acquired a 26% stake in Mateshwari E-Smart Mobility (Hyderabad) Private Limited (MEMHPL) for ₹2.6 lakh. The acquisition is linked to operations and maintenance of electric buses under the Telangana State Road Transport Corporation (TSRTC).

TSCMSL acquired 26,000 equity shares of ₹10 each in MEMHPL at par, giving it a 26% stake in the company. The transaction was completed on September 28, 2026, with the consideration paid in cash through the transfer of shares from MEMHPL’s existing shareholder.

The acquisition follows a tender awarded to TSCMSL and Mateshwari Urban Transport Solutions Private Limited, the holding company of MEMHPL, for the operation and maintenance of electric buses under TSRTC. Tata Motors said the acquisition of MEMHPL is intended to facilitate the electric bus operations and maintenance activity.

Tata Motors Electric Bus Operations In Telangana

TSCMSL participates in tenders issued by municipal corporations for the operation and maintenance of electric buses. The company said the MEMHPL acquisition falls within Tata Motors’ existing business objectives relating to electric bus operations and maintenance.

MEMHPL was incorporated on August 11, 2026, under the Companies Act, 2013, with the stated objective of carrying out e-mobility business. It has an authorised share capital and paid-up capital of ₹10 lakh each. As the company was incorporated only in August, its turnover was not applicable at the time of the disclosure.

The acquisition itself does not fall under a related-party transaction. However, following the acquisition, MEMHPL becomes an associate company of Tata Motors and consequently a related party. No government or regulatory approvals were required for the transaction, according to the filing.