TML Smart City Mobility Solutions Ltd which is Tata Motors’ wholly owned subsidiary, has acquired a 26% stake in Mateshwari E-Smart Mobility (Hyderabad) Pvt Ltd (MEMHPL) for Rs 2.6 lakh to support the operation and maintenance of electric buses under the Telangana State Road Transport Corporation (TSRTC).
TSCMSL acquired 26,000 equity shares of MEMHPL, each with a face value of Rs 10, at par, giving it a 26% stake in the company. The transaction was completed on September 28, with the consideration paid in cash through the transfer of shares from MEMHPL’s existing shareholder.
The acquisition follows a tender awarded to TSCMSL and Mateshwari Urban Transport Solutions Pvt Ltd, the holding company of MEMHPL, for the operation and maintenance of electric buses under TSRTC.
Tata Motors said the acquisition of MEMHPL is intended to facilitate the electric bus operations and maintenance activity in Telangana. TSCMSL participates in tenders issued by municipal corporations for the operation and maintenance of electric buses.
The company said the acquisition falls within TSCMSL’s existing business objectives relating to electric bus operations and maintenance.
MEMHPL was incorporated on August 11, 2026, under the Companies Act, 2013, with the stated objective of carrying out e-mobility business. The company has an authorised share capital and paid-up capital of Rs 10 lakh each.
As MEMHPL was incorporated only in August, its turnover was not applicable at the time of the disclosure.
Following the acquisition, MEMHPL will become an associate company of Tata Motors and, consequently, a related party. The acquisition itself does not constitute a related-party transaction, according to the company’s disclosure.
No government or regulatory approvals were required for the transaction.
The investment comes as Tata Motors continues to participate in tenders for electric bus operations and maintenance, with TSCMSL serving as the group’s vehicle for such contracts. The Telangana contract adds to the company’s electric mobility operations, with the latest acquisition structured to facilitate the execution of the bus operations and maintenance activity under TSRTC.
