Greaves Electric Mobility Secures INR 530 Crore through Fully Subscribed Rights Issue
Greaves Electric Mobility Limited (GEML), the electric mobility business of Greaves Cotton Limited, announced that it successfully completed an equity infusion of INR 530 crore through a Rights Issue. The investment was fully subscribed by existing shareholders, including Greaves Cotton Limited (GCL) and Abdul Latif Jameel Green Mobility Solutions (ALJ).The full subscription reaffirms the continued confidence of GCL and ALJ in GEML's strong momentum and its strategic role in advancing India's clean mobility transition. The capital infusion is designated to strengthen GEML’s next phase of growth, focusing on developing Next Generation products, Battery Management Systems, Power Trains, and New age Technology development.
Speaking on the investment, Mr. Karan Thapar, Chairman of Greaves Cotton Limited, stated that GCL's strong balance sheet allows them to support organic growth and selectively invest behind businesses with clear long-term potential. He added that their continued investment reflects confidence in GEML’s strategic direction and execution capabilities, noting that with its manufacturing footprint and expanding portfolio, GEML is positioned to sustain market outperforming growth.
The funding will bolster the company's electric two-wheeler and three-wheeler portfolio, deepening technology development and supporting operations within the competitive EV market.
Commenting on the development, Mr. Vikas Singh, Managing Director of Greaves Electric Mobility Limited, expressed gratitude for the full subscription by existing shareholders. He stated that their support signals strong confidence in GEML's vision and execution momentum.
Mr. Singh emphasized that as India's electric mobility market moves towards mass adoption, GEML remains focused on supporting national clean mobility goals through differentiated products built for Bharat, stronger technology capabilities, and reliable solutions for customers. This capital will help accelerate innovation and strengthen the product pipeline.
Greaves Electric Mobility Limited operates in both the electric two-wheeler and three-wheeler segments, utilizing brands Ampere and Greaves 3 Wheelers. The company leverages its experience to provide clean mobility solutions and contribute to India's shift toward electric transportation.
GREAVESCOT Stock Price Movement
Shares of Greaves Cotton Limited are edging higher to ₹239 as of 11:45 AM today, gaining ₹0.95 and trading positively in live market action. The stock is seeing significant intraday interest, exchanging a volume of 532,877 shares in active trade.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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