Tata Motors Subsidiary Buys 26% Stake in E-Mobility Company for ₹2.6 Lakh

Tata Motors, through its wholly owned subsidiary TML Smart City Mobility Solutions, has acquired a 26% stake in Mateshwari E-Smart Mobility (Hyderabad) for ₹2.6 lakh. 

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The transaction was completed on September 28, according to a regulatory filing by Tata Motors. The investment is connected with the company’s electric bus operations and maintenance business in Telangana. 

TML Smart City Mobility Solutions acquired 26,000 equity shares of Mateshwari E-Smart Mobility at ₹10 apiece. Following the transaction, Mateshwari E-Smart Mobility will become an associate of Tata Motors. 

Acquisition Linked to Telangana Electric Bus Operations 

Mateshwari E-Smart Mobility was incorporated on August 11, 2026 to carry out e-mobility business. It has authorised and paid-up capital of ₹10 lakh. 

The acquisition comes in connection with an electric bus tender awarded by the Telangana State Road Transport Corporation. 

TML Smart City Mobility Solutions and Mateshwari Urban Transport Solutions, the holding company of Mateshwari E-Smart Mobility, have been awarded the tender for operating and maintaining electric buses. 

Tata Motors’ subsidiary is also participating in tenders floated by municipal corporations for electric bus operations and maintenance. The company stated that acquiring the 26% stake falls within its business objectives. 

Transaction Completed Through Cash Consideration 

The acquisition was completed through cash consideration paid for equity shares transferred by an existing shareholder of Mateshwari E-Smart Mobility. 

No government or regulatory approvals were required to complete the transaction. 

Since Mateshwari E-Smart Mobility was incorporated only in August 2026, it does not have reported turnover for the previous three financial years. 

Tata Motors also stated that the acquisition itself was not a related-party transaction. Following the investment, however, Mateshwari E-Smart Mobility will become an associate of Tata Motors and consequently a related party.