Tata Motors Subsidiary Acquires 26% E-Mobility Stake; Shares Fall 0.99%

Mumbai, September 29: Tata Motors’ wholly owned subsidiary, TML Smart City Mobility Solutions, has acquired a 26% stake in Matoshwari E-Smart Mobility (Hyderabad) Private Limited for ₹2.60 lakh, making the electric mobility company an associate of the Tata Motors subsidiary.

Tata Motors Subsidiary Takes 26% Stake In E-Mobility Company

According to the exchange filing, TML Smart City Mobility Solutions acquired 26,000 equity shares of Matoshwari E-Smart Mobility at ₹10 per share. The total cash consideration for the acquisition is ₹2,60,000.

Matoshwari E-Smart Mobility was incorporated on August 11, 2026, under the Companies Act, 2013. The company has an authorised share capital of ₹10 lakh and paid-up share capital of ₹10 lakh.

The acquisition is linked to Tata Motors’ electric bus operations. TML Smart City Mobility Solutions participates in tenders floated by various municipal corporations for the operation and maintenance of electric buses.

Stock Market Snapshot

The Tata Motors share price stood at ₹428.65 as of 9:48:17 AM IST on September 29, 2026, down ₹4.30 or 0.99% from the previous close.

The stock was trading below ₹430 during the morning session after opening around the ₹431 level.

The share price movement came a day after Tata Motors disclosed the acquisition of the stake in Matoshwari E-Smart Mobility.

Acquisition Linked To Electric Bus Operations In Telangana

The filing said TML Smart City Mobility Solutions, along with Matoshwari Urban Transport Solutions, has been awarded a tender for the operation and maintenance of electric buses under the Telangana State Road Transport Corporation.

Matoshwari Urban Transport Solutions is described as the holding company of Matoshwari E-Smart Mobility. Tata Motors said the acquisition of the 26% stake has been made for the purpose of operating and maintaining electric buses and falls within the company’s business objectives.

The transaction was completed on September 28, 2026, through a cash payment to the existing shareholder of Matoshwari E-Smart Mobility.

Matoshwari E-Smart Mobility Becomes An Associate

Following the acquisition, Matoshwari E-Smart Mobility has become an associate of TML Smart City Mobility Solutions.

The filing states that the transaction itself does not fall within the definition of a related-party transaction. However, after the acquisition, Matoshwari E-Smart Mobility will become an associate of the Tata Motors subsidiary and consequently a related party.

Since the target company was incorporated only in August 2026, its turnover and other historical financial details are not applicable at this stage.

Tata Motors Expands Electric Mobility Participation

The investment gives Tata Motors’ electric mobility subsidiary a direct stake in a company involved in the operating and maintenance side of electric bus services.

The move also fits into Tata Motors’ broader presence in electric commercial vehicles, where operations extend beyond supplying vehicles to include supporting mobility and fleet operations.

For the latest acquisition, the investment is relatively small at ₹2.60 lakh, with the strategic relevance centred on the electric bus operating and maintenance opportunity in Telangana.

Conclusion

TML Smart City Mobility Solutions, a wholly owned subsidiary of Tata Motors, has acquired 26% of Matoshwari E-Smart Mobility for ₹2.60 lakh. The acquisition has made Matoshwari E-Smart Mobility an associate of the Tata Motors subsidiary.

The company said the investment is connected with electric bus operation and maintenance activities under a tender awarded by the Telangana State Road Transport Corporation.

The Tata Motors share price stood at ₹428.65 as of 9:48:17 AM IST on September 29, 2026, down ₹4.30 or 0.99% from the previous close.

Source:

• https://www.nseindia.com/get-quote/equity/TMCV/Tata-Motors-Limited
• https://nsearchives.nseindia.com/corporate/TMLCOMMERCIAL_28092026222610_LetterNSEBSETMLSPV.pdf