Tube Investments acquired 65.2% stake in IPLTech Electric Pvt. Ltd.

Tube Investments of India Ltd announced plans to purchase a 65 percent ownership investment in the electric heavy commercial vehicle manufacturer lPLTech Electric Private Ltd (IPLT).

Through Tl Clean Mobility Private Ltd (TICMPL), a fully owned subsidiary of Tube Investments of India Ltd., the transaction will be made. According to the firm, TICMPL wants to purchase 13,836 equity shares from IPLT, or 65.2% of its equity share capital.

“The acquisition would be through a mix of primary and secondary purchase of shares for a total consideration of around Rs 246 core,” Tube Investments stated in an exchange statement.

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