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TI Cycles, a leading bicycle manufacturer, which is a unit of the $3.2 billion Murugappa Group, rolled-out India’s first carbon made bicycle - Montra on Thursday. The Montra has been designed and produced locally. The company has signed the Formula 1 driver Karun Chandok as its brand ambassador for these high-end bicycles. These lightweight bicycles have been priced in the range of Rs 21,000 and Rs 1.5 lakh.