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Tata Motors wholly owned subsidiary TML Smart City Mobility Solutions Limited (TSCMSL) has acquired a 26% stake in Mateshwari E-Smart Mobility (Hyderabad) Private Limited (MEMHPL) for 2.6 lakh. The transaction was completed on September 28, 2026.
TSCMSL acquired 26,000 equity shares of MEMHPL, each having a face value of ₹10, at par. Following the acquisition, TSCMSL holds a 26% stake in the company.
The acquisition is linked to the operation and maintenance of electric buses under the Telangana State Road Transport Corporation (TSRTC). TSCMSL and Mateshwari Urban Transport Solutions Private Limited, the holding company of MEMHPL, were awarded a tender for the operation and maintenance of electric buses under TSRTC.
According to Tata Motors, the acquisition of MEMHPL is intended to facilitate electric bus operations and maintenance activities in Telangana. TSCMSL also participates in tenders issued by municipal corporations for the operation and maintenance of electric buses.
MEMHPL was incorporated on August 11, 2026, under the Companies Act, 2013, with the objective of carrying out e-mobility-related business activities. The company has an authorised share capital and paid-up share capital of ₹10 lakh each. As the company was incorporated recently, its turnover was not applicable at the time of the disclosure.
Tata Motors said the acquisition was not a related-party transaction. However, following the acquisition, MEMHPL has become an associate company of Tata Motors and, consequently, a related party. The company also stated that no government or regulatory approvals were required for the transaction
