Tata Motors Subsidiary Acquires 26% Stake in Mateshwari E-Smart Mobility

TML Smart City Mobility Solutions Limited (TSCMSL), a wholly owned subsidiary of Tata Motors Limited, has acquired a 26% stake in Mateshwari E-Smart Mobility (Hyderabad) Private Limited (MEMHPL) for ₹2.60 lakh, according to a regulatory filing dated September 28, 2026. Following the transaction, MEMHPL has become an associate company of Tata Motors.

TSCMSL acquired 26,000 equity shares at ₹10 per share, representing 26% of MEMHPL’s paid-up share capital. The consideration was paid in cash through the transfer of shares from an existing shareholder. According to the filing, Tata Motors, through TSCMSL, participates in tenders issued by municipal corporations for the operation and maintenance of electric buses.

TSCMSL, along with Mateshwari Urban Transport Solutions Private Limited, the holding company of MEMHPL, has been awarded a tender for the operation and maintenance of electric buses under the Telangana State Road Transport Corporation (TGSRTC). Tata Motors stated that the acquisition of the stake in MEMHPL is related to these electric bus operations.

MEMHPL was incorporated on August 11, 2026 under the Companies Act, 2013, to undertake e-mobility business. The company has an authorised share capital and paid-up capital of ₹10 lakh each. As it was incorporated recently, turnover information was not applicable in the disclosure.

Tata Motors stated that the acquisition does not constitute a related-party transaction. However, following the acquisition, MEMHPL becomes an associate company and consequently a related party. No government or regulatory approvals were required for the transaction, according to the filing.

Also read: Tata Motors launches Sierra.ev at introductory price of ₹18.79 lakh