New Delhi, Aug. 20 -- Mumbai-based corporate behemoth JSW Group, known more for its large businesses across steel, energy, cement and infrastructure, is stepping up investments in its nascent mobility business - in both its wholly owned automobile arm JSW Green Mobility and in JSW MG Motor India, a joint venture with China's SAIC.

In July, the Sajjan Jindal-led conglomerate pumped in $115 million into JSW Green Mobility, filings with the ministry of corporate affairs showed. The company raised the funds by issuing optionally convertible debentures (OCDs) worth Rs.1,000 crore to JSW Projects, which is promoted by the Jindal family.

The board of JSW Green Mobility approved the issuance of OCDs to raise up to Rs.1,000 crore "to utilise the...