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JBM Group’s electric bus unit secures Rs 750 crore loan from Motilal Oswal private credit fund and others

JBM Ecolife Mobility Private Limited, an electric bus platform under India’s JBM Group, has raised a Rs 750 crore loan led by Motilal Oswal’s private credit fund. The company said the funds will be used to acquire, operate and roll out zero-emission public transport fleets under long-term agreements with state transport authorities across key cities. JBM aims to expand its deployed electric buses across India from about 3,400 to about 5,000 within the next 12 months, according to the company’s press statement. Shares of JBM Auto were trading 1.5% higher on June 18.
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