Greaves Cotton's EV Arm Greaves Electric Mobility Raises ₹530 Crore Through Fully Subscribed Rights Issue

Greaves Electric Mobility Limited (GEML), the electric mobility business of Greaves Cotton Limited, has raised ₹530 crore through a fully subscribed rights issue. The investment was subscribed by its existing shareholders, including Greaves Cotton Limited and Abdul Latif Jameel Green Mobility Solutions, in line with their existing shareholding.

The company said the investment reflects the shareholders' continued confidence in GEML's growth strategy and its role in supporting India's transition towards cleaner mobility.

Funds To Support Future Growth and Technology

According to the company, the fresh capital will be used to strengthen its next phase of growth. The investment will support the development of next-generation electric vehicles, battery management systems, powertrains and new-age technologies.

GEML also plans to strengthen its electric two-wheeler and three-wheeler portfolio while enhancing its engineering and manufacturing capabilities.

Chairman Highlights Long-Term Confidence

Commenting on the investment, Karan Thapar, Chairman of Greaves Cotton Limited, said the company's strong financial position enables it to invest in businesses with long-term growth potential.

He added that Greaves Cotton remains confident in Greaves Electric Mobility's strategy, execution capabilities and expanding product portfolio. He also said the company is well positioned to continue delivering growth by focusing on products designed for Indian customers.

Company Remains Focused on Innovation

Vikas Singh, Managing Director of Greaves Electric Mobility Limited, thanked the existing shareholders for fully subscribing to the rights issue.

He said the continued support reflects confidence in the company's vision and execution. According to him, the additional capital will help accelerate innovation, strengthen the product pipeline and support India's clean mobility goals through reliable and technology-driven mobility solutions.

IPO Plans Remain on Hold

GEML said it has decided not to make use of the SEBI extension available for its proposed public offer at present. However, the company remains committed to pursuing a public listing at a suitable time, subject to market conditions, regulatory approvals and other relevant factors.

Greaves Electric Mobility Continues to Expand

The company said it has been delivering strong performance in both the electric two-wheeler and three-wheeler segments. It continues to expand its product range, retail and service network while investing in engineering, manufacturing and customer experience.

Greaves Electric Mobility currently operates manufacturing facilities in Hyderabad, Noida and Ranipet and has more than 17 years of experience in designing and manufacturing electric vehicles.

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About Greaves Cotton 

Greaves Cotton is an Indian engineering conglomerate that develops and manufactures clean technology powertrain solutions for petrol, diesel and CNG engines, as well as products for heavy equipment.

Greaves Cotton Share Price Movement

As of 11:06 AM on August 3, Greaves Cotton share price (NSE: GREAVESCOT)was trading at ₹237.50 on the NSE, down 0.23% (₹0.55) for the day. The stock opened at ₹240.00 and moved between an intraday high of ₹241.85 and a low of ₹237.13. 

Conclusion

The ₹530 crore rights issue provides Greaves Electric Mobility with additional resources to invest in technology, product development and manufacturing. 

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