JBM Ecolife raises Rs 900 crore from Motilal Oswal Fund for biz expansion

Mumbai: JBM Ecolife Mobility, the electric mobility platform of listed auto components maker JBM Auto, has raised ₹900 crore from Motilal Oswal Private Credit through a combination of debt and equity to support the expansion of its electric bus business, said people familiar with the matter.

The funding comprises ₹450 crore of structured debt and ₹450 crore of equity-linked capital. The debt has been priced at around 13% and carries a tenure of four to five years, the people said.

The capital infusion is expected to enhance the company’s ability to participate in large electric bus tenders and execute existing contracts. Following the latest fundraising, JBM Ecolife’s electric bus platform is expected to scale up to nearly 5,000 buses over the next few years from about 2,000 buses currently, according to the people.

Spokespersons of JBM Ecolife Mobility and Motilal Oswal did not immediately respond to ET’s queries.