Tube Investments of India, TI Clean Mobility get Rs 160 crore funding from GEF

Tube Investments of India and its subsidiary TI Clean Mobility, have entered into a Rs 160 crore agreement with South Asia Growth Invest III LLC and South Asia EBT Trust III (collectively known as GEF).

With the proposed investment, TICMPL has completed tying up the targeted fund raise of Rs 3000 crore. from Tll and other investors, it said in a stock exchange filing.

The proposed fund raising by TICMPL will help scale up the operations of TICMPL and its subsidiaries.

The closing of the transaction/investment is subject to satisfactory completion of the Conditions Precedents as contained in the agreements executed between the parties.