Elpro International Acquires Equity in Greaves Cotton Limited for INR 5 Crores

Elpro International Acquires Equity in Greaves Cotton Limited for INR 5 Crores​

Elpro International Ltd has acquired equity shares of Greaves Cotton Limited (GCL), making a strategic move within the manufacturing sector. The acquisition was conducted through cash consideration at a cost of INR 5.00 Crores, as part of Elpro International's investment strategy.

The transaction involved an increase in Elpro International’s holdings in GCL. The company acquired 230,360 Equity Shares. This fresh acquisition increased the total holding to 461,575 Equity Shares, up from a previous holding of 231,215 Equity Shares.

Greaves Cotton Limited is described as a diversified, multi-product, multi-fuel engineering company with a legacy spanning 165 years. Originally known for its single-cylinder diesel engines, GCL has evolved into an end-to-end mobility solutions provider, committed to the purpose of "Empowering Lives." The company aims to facilitate a sustainable transition toward green mobility and intends to impact a billion lives by 2030. Its core line of business includes Compressors, Pumps, and Diesel Engines.

GCL Financial Performance Overview​

The acquisition targets held GCL, whose operational details were reviewed, including its turnover across the last three fiscal years. The company's operations are based in India within the Compressors, Pumps & Diesel Engines industry segment.

Financial performance data for Greaves Cotton Limited (GCL), reported in Crores, is detailed below:

ELPROINTL Stock Price Movement​

Elpro International Limited shares slipped by 0.06% on Thursday, settling at ₹172.19. The stock saw a traded volume of 30,910 shares during the session.