PMI Electro Mobility raises ₹250 crore equity via preferential allotment
The Hindu
PMI Electro Mobility raises ₹250 crore for electric buses, accelerating growth plans with consortium investment.
PMI Electro Mobility Solutions Pvt. Ltd, a manufacturer of electric buses, said it has raised ₹250 crore by way of equity from a consortium comprising of Authum Investment & Infrastructure Ltd, Antique Securities and associated HNI family offices and Nikhil Kamath backed Gruhas.
The investment was raised through a preferential allotment of equity shares.
With an order book of over 3,000 electric buses, this infusion of funds will enable the company to accelerate its growth plans, it said.
Aanchal Jain, CEO, PMI Electro Mobility, said, “We are deeply honoured by this second round of private equity investment, which reinforces our commitment to advancing green mobility initiatives and accelerating the adoption of electric buses within the country’s public transport system.”
“With robust government support, driven by progressive policies ....this transition is gaining significant momentum. We take immense pride in contributing to this transformative journey and shaping the future of mobility,” she said.
Amit Dangi, Director, Authum Investment & Infrastructure, said, “We believe that sustainable financing is critical to the future of our economy. The adoption of electric buses in the public transport system is still in its nascent stages, but we believe that it is on the cusp of rapid growth.”
Abhijeet Pai, Partner, Gruhas said, “PMI Electro Mobility is redefining urban transportation in India through their commitment to electric mobility and environmental stewardship. Our Investment reflects our shared vision of accelerating India’s transition towards a green and sustainable future, creating meaningful change for generations to come.”
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