<h1>Greaves Cotton Limited Subscribes Full Entitlement in Subsidiary’s Rights Issue</h1>
Greaves Cotton Limited confirmed that its shareholding in its material subsidiary, Greaves Electric Mobility Limited (GEML), remains unchanged following the completion of GEML's rights issue. The Company subscribed to its full entitlement amounting to approximately INR 331.12 crore out of the total offer size of INR 530 crore.
The rights issue by GEML concluded on August 2, 2026, with the Board approving the allotment of equity shares to all eligible shareholders based on their rights entitlement. This transaction ensured that Greaves Cotton Limited maintained its stake and continuous interest in GEML.
As a result of the fully subscribed rights issue by all existing shareholders, GCL’s shareholding in GEML stands at 62.48%, confirming GEML's status as a material subsidiary of the Company.
<h2>GEML Profile and Financial Highlights</h2>
Greaves Electric Mobility Limited (GEML) operates in the Automobiles - Electric Vehicles industry. Incorporated on June 2, 2008, GEML specializes in designing and manufacturing electric two-wheelers and three-wheelers for personal mobility, industrial applications, and goods movement.
The proceeds from the rights issue are intended to be utilized by GEML towards capital expenditure, working capital requirements, and general corporate purposes.
A detailed look at GEML's operational background and financial health is provided below:
| Particulars | Detail |
|---|---|
| Industry | Automobiles - Electric Vehicles |
| Incorporation Date | June 2, 2008 |
| Total Offer Size of Rights Issue | INR 530 Crore |
| GCL Subscription Amount | Approximately INR 331.12 crore |
| Current Shareholding (GCL) | 62.48% |
The company's turnover highlights and operational data for the past three years are as follows:
| Financial Year | Turnover |
|---|---|
| FY 2023-24 | INR 433.84 Crore |
| FY 2024-25 | INR 444.31 Crore |
| Mar 31, 2026 | INR 596.98 Crore |
GEML, a material subsidiary of the Company, continued its operations in India across the electric vehicle sector.
GREAVESCOT Stock Price Movement
On Friday, Greaves Cotton Limited shares rallied after closing at ₹238.05, registering a gain of 2.67%. The stock saw strong trading activity in the session, with 967,530 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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