BONDADABondada Engineering Ltd.
Bondada Engineering buys 51% of electric two-wheeler maker BTM Mobility
- Mergers & acquisitions
- Electric vehicles and engineering
Reviewed byRachit TripathiBlacklitt Research
Bondada Engineering (NSE: BONDADA) has completed the acquisition of 51% of BTM Mobility Private Limited through its subsidiary Atpole Technologies Private Limited, it said in a filing on 02 Nov 2026. The deal was paid in cash and gives the subsidiary control. BTM Mobility makes electric two-wheelers.
The acquisition in detail
Atpole Technologies Private Limited acquired 5,100 equity shares of face value ₹10 each in BTM Mobility Private Limited, giving 51% shareholding and control. The consideration is cash, and the filing says the acquisition is completed.
BTM Mobility Private Limited, formerly known as Thuraga Motors Private Limited, was incorporated on 16 Sep 2025 under the Companies Act, 2013. It is engaged in manufacturing and assembly of electric two-wheelers, with associated components and original equipment, and in design and development of electric vehicle technologies.
The company says the acquisition gives the Bondada Group a platform to enter and scale in the electric two-wheeler segment. It cites BTM Mobility's design and development capabilities, intellectual property, business credentials, existing order pipeline, and empanelment and relationships with organisations and institutions.
How it fits Bondada Engineering
Bondada Engineering's latest reported quarter, Q1 FY27 on a consolidated basis, had total income of ₹698.90 crore and net profit of ₹53.94 crore. The company's market value was ₹3,060 crore at the 30 Oct 2026 close of ₹274.00 a share.
In the last 30 days the company also filed for credit ratings on its subsidiaries on 30 Oct 2026 and a work order on 22 Oct 2026. The filings do not link these to the BTM Mobility deal.
What the BTM Mobility acquisition means for Bondada Engineering's shareholders
The step adds a control stake in an electric two-wheeler maker to a subsidiary's holdings, and the filing describes it as a move into a new segment for the group. The consideration amount in rupees and the price per share are not stated, and neither are the revenue, profit or net worth of BTM Mobility, nor how the remaining 49% is held. The filing does not say what funding beyond the cash consideration may follow, or what production plans the entity has.
At a glance
| Item | Detail |
|---|---|
| Acquirer | Atpole Technologies Private Limited, a subsidiary of Bondada Engineering |
| Target | BTM Mobility Private Limited (formerly Thuraga Motors Private Limited) |
| Shares acquired | 5,100 equity shares of ₹10 each |
| Holding | 51%, giving shareholding and control |
| Consideration | Cash |
| Status | Completed |
| Target incorporated | 16 Sep 2025 |
Filed with BSE on . Reference: Original filing (PDF)
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