News

Total consolidated income of the company increased by 3.84% at Rs 3946.14 crore for Q1FY24

Consequent to the acquisition, Cellestial has become a wholly-owned subsidiary of TICMPL with effect from February 03, 2023

TICMPL will be investing Rs 160 crore and Anand Jayachandran will be investing Rs 40 crore in the form of equity

Jayem is an automotive research & development company engaged in design, development, testing and manufacturing of a wide range of automotive components, systems and prototypes

With the execution of definitive agreements for the balance Rs 675 crore, the capital infusion plan for Rs 1950 crore has been fully tied up

Total consolidated income of the company increased by 15.93% at Rs 3812.94 crore for Q2FY23

The shares were purchased at an average price of Rs 3,348.09 apiece

As it eyes a larger presence in the electric vehicle segment

Consequently, Lotus has become a subsidiary of Tube Investments of India

The Ministry of Corporate Affairs, Government of India has issued the Certificate of incorporation on May 12, 2023

The company is planning to invest up to Rs 285 crore and NG will be investing up to Rs 15 crore in the form of equity and compulsorily convertible preference shares

Total consolidated income of the company increased by 11.63% at Rs 3,823.42 crore for Q4FY23

The Board of Directors of the company in its meeting held on May 15, 2023, approved the same.

The acquisition is expected to be completed on or before October 31, 2022

The board of directors at its meeting held on July 18, 2022 has approved the same

The proposed acquisition by TII is in line with the intent to broaden its product and business portfolio with a view to reduce its dependence on existing revenue streams

Earlier, the company had entered into definitive agreements for this acquisition

The proposed acquisition by TICMPL is to augment its research & development capabilities and to broaden its product and business portfolio in the productive end of electric vehicles

The proposed investment is in line with the Company’s intent to invest in start-ups engaged in innovative research and product development in fields/activities of interest to the Company

With this, Moshine has become a subsidiary of the Company under section 2(87) of the Companies Act, 2013

The proposed investment is in line with the Company’s intent to invest in start-ups engaged in innovative research and product development in fields/activities of interest to the Company

The Ministry of Corporate Affairs, Government of India has issued the Certificate of incorporation viz., July 25, 2023

TICM is focused on manufacturing and marketing of electric three-wheelers

Post-acquisition, Cellestial will become wholly-owned subsidiary of TICMPL

TII will acquire 67% while Premji Invest will acquire the balance 33%

The proposed investment will support KCAL India’s expansion plans, including increasing its manufacturing capabilities

The manufacturing unit to come up in western parts of the country would be funded through ’internal accruals’