Cyril Amarchand Mangaldas advised Transvolt Mobility on US$ 50 million financing round
Cyril Amarchand Mangaldas advised Transvolt Mobility Private Limited (“Transvolt”) on its US$ 50 million financing round. Transvolt is an early-stage, OEM-agnostic Electric Vehicle (EV) platform that owns, operates, and maintains electric vehicles through group entities, providing electric bus fleet mobility, electric transport and logistics solutions, electric connectivity, and electric trucking solutions across India and globally.
As part of the transaction, International Financial Corporation (IFC) will invest up to US$ 20 million in the form of Compulsorily Convertible Debentures (CCDs). This marks IFC’s first equity investment in an EV platform both in India and globally. IFC and Transvolt have entered into a securities subscription agreement and a shareholders agreement to give effect to the investment.
The Cyril Amarchand Mangaldas team advising on the transaction was led by Sonakshi Arora (Partner), with support from Deval Dangayach (Senior Associate) and Preeti Gurnani (Associate).
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