Motilal Oswal Alternates’ Private Credit Fund and Motilal Oswal group entities commit INR 750 Cr with JBM Ecolife to scale E-Bus Platform pan India
Motilal Oswal Alternates (MO Alternates), the alternative investment arm of Motilal Oswal Group, through its Private Credit Fund, along with other entities of Motilal Oswal Group, has committed INR 750 crore to JBM Ecolife Mobility Private Limited (JBM Ecolife), a leading electric bus platform and a part of JBM Group. The Private Credit Fund is managed by Motilal Oswal Alternates is leading this investment, providing growth capital to scale JBM Ecolife’s electric bus (e-bus) deployment and advance sustainable public transit infrastructure across India.
The transaction represents a core milestone for MO Alternates' sustainability-focused investment allocation, mirroring scaled global private equity models by backing dominant green mobility platforms. This is the largest ever investment by any Indian investor till date in electric mobility. The growth capital will support the acquisition, operation, and rolling deployment of advanced, zero-emission public transport fleets operating under long-term agreements with state transport authorities across key Indian cities. This capital infusion will directly fund the rollout of high-capacity, energy-efficient e-buses, providing state-of-the-art alternative transit options that help displace traditional diesel fleets, reduce urban air pollution, and align with India’s long-term net-zero targets.
Mr. Nishant Arya, Vice Chairman & MD, JBM Auto Ltd. said “We are delighted to partner with Motilal Oswal as we enter our next phase of transformative growth at JBM Ecolife. With our market leadership in the electric bus market in India in FY26, this strategic partnership will act as a major catalyst towards further scaling our e-bus deployment to various states, delivering cleaner air and modernized public commuting experiences across urban centres.”
“India is currently the third largest electric bus market in the world undergoing a historic shift in public transport infrastructure toward electrification. From the current ~3400 JBM e-buses deployed pan India, we will have ~5000 e-buses on roads in the next 12 months. Our proven integration of fleet management systems with advanced engineering uniquely positions us to lead this transition with enhanced agility and scale”, Mr. Arya further added.
Rakshat Kapoor, Head - Private Credit at MO Alternates, said, "India's green energy mandate and urban mobility imperative are converging to create a structural investment opportunity of significant scale, and JBM Ecolife stands as its most credible institutional expression. JBM's long-term concession structures offer predictable, contract-backed cash flows which is precisely the architecture that makes for compelling private credit investments.”
Rakshat Kapoor added, “At MO Alternates, we back sector champions with disciplined capital solutions tailored to unlock significant scale. JBM's commanding market presence, execution capabilities, and policy tailwinds make them the ideal platform to institutionalise green mobility infrastructure in India. Our overall INR 750 crore commitment is a high-conviction allocation, and we look forward to working alongside the JBM leadership to generate sustainable value for our investors and the environment."
Ankit Jain, Director – Private Credit at MO Alternates said "Our investment in JBM represents our commitment in powering India's clean energy and sustainable mobility ecosystem. Through customized private credit structures, we are providing the flexible, long-term capital required to scale their electric vehicle infrastructure"
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