Tata Motors surges 15% as TPG Rise to invest Rs 7,500 crore in EV arm

TPG Rise Climate along with its co-investor ADQ, shall invest in a subsidiary of Tata Motors that will be newly incorporated.

Shares of Tata Motors were temporarily frozen in the 15 per cent upper circuit at Rs 483.90 on the BSE in Wednesday’s intra-day trade after the company on Tuesday after market hours said it will raise Rs 7,500 crore ($1 billion) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. The stock trades in the futures & option (F&O) segment, which has no circuit limits.

Shares of Tata Motors DVR (Differential Voting Rights), meanwhile, zoomed 20 per cent to Rs 237.20 on the BSE in intra-day trade today.

Tata Motors (TML) and TPG