Mumbai: Greaves Cotton Limited, one of India’s leading diversified engineering companies, announced that its Board of Directors has approved the Company’s participation in the proposed rights issue of its material subsidiary, Greaves Electric Mobility Limited (GEML), to fully subscribe its entitlement in the rights issue aggregating up to approximately ₹331 crore.
The proposed investment reflects Greaves Cotton’s continued commitment to GEML, its confidence in the progress of the business to strengthen its position in India’s evolving electric mobility landscape.
Parag Satpute, Managing Director & Group CEO, Greaves Cotton Limited, said:
“Our proposed investment in Greaves Electric Mobility Limited reflects our conviction in the long-term opportunity presented by India’s transition to sustainable mobility. Backed by a strong balance sheet, healthy cash position and our disciplined capital allocation approach, we continue our focus on the broader Greaves.Next growth journey”
The proposed investment is aligned with Greaves Cotton’s long-term strategy of building future ready businesses while creating sustainable value for customers, shareholders and other stakeholders.
