Greaves Electric Mobility Raises Rs 530 Cr via Rights Issue

Mumbai: Greaves Electric Mobility Limited (GEML) on Tuesday said it has raised Rs 530 crore through a rights issue to strengthen the company’s next phase of growth.

The investment will firm up GEML’s electric two and three–wheeler portfolio, deepen technology development and support execution in a competitive, fast-adopting EV market, the company said.

The investment is fully subscribed by the existing shareholders in proportion to their existing shareholding, including Greaves Cotton Limited (GCL) and Abdul Latif Jameel Green Mobility Solutions (ALJ). The capital infusion is aimed at strengthening GEML’s next phase of growth towards building next generation products, battery management systems, power trains and new age technology development, it said.

“GCL’s strong balance sheet enables us to support organic growth and selectively invest behind businesses with clear long-term potential. Our continued investment in Greaves Electric Mobility reflects our confidence in its strategic direction, execution capabilities and role in advancing India’s clean mobility transition,” said Karan Thapar, Chairman, Greaves Cotton Limited.

This capital will help GEML accelerate innovation and further strengthen the product pipeline, said Vikas Singh, Managing Director, GEML.

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