New Delhi, June 18 -- Motilal Oswal Alternates and other entities of the Motilal Oswal Group have committed Rs 750 crore (nearly $80 million) to the electric-bus platform JBM Ecolife Mobility Pvt Ltd, which is part of the listed auto components and mobility company JBM Group.
The investment is being led by Motilal Oswal Alternates' private credit fund and will be used to support the deployment of electric buses and related mobility infrastructure across India.
The company plans to use the capital to fund the acquisition, operation and rollout of electric bus fleets operating under long-term contracts with state transport authorities. The funding will also support the expansion of JBM Ecolife's electric mobility platform, which integrates buses, charging infrastructure, fleet management systems and operations services.
JBM Ecolife currently operates electric buses across states, including Delhi, Gujarat, Maharashtra, Haryana, Odisha, Telangana and Karnataka. The company said it has deployed around 3,400 electric buses across India and expects that number to increase to about 5,000 over the next 12 months.
Rakshat Kapoor, head of private credit at Motilal Oswal Alternates, said the investment was driven by the growth potential of India's electric mobility sector and the visibility of cash flows generated through long-term concession agreements.
The transaction marks one of the largest private credit investments in India's electric mobility sector and comes shortly after Motilal Oswal Alternates announced the second close of its maiden private credit fund, India Credit Excellence Fund-I, at Rs 2,438 crore. The fund, launched in January 2026, is targeting a corpus of Rs 3,000 crore, including a greenshoe option.
Published by HT Digital Content Services with permission from VC Circle.