Greaves Electric Mobility Limited (GEML), the electric mobility business of Greaves Cotton Limited, has successfully completed its ₹530 crore Rights Issue, with the entire issue fully subscribed by its existing shareholders. The participation of Greaves Cotton Limited and Abdul Latif Jameel Green Mobility Solutions (ALJ) reflects their continued confidence in the company’s growth strategy and its role in supporting India’s transition to electric mobility.
The fresh capital will be used to strengthen Greaves Electric Mobility’s next phase of expansion by accelerating the development of next-generation electric vehicles, advanced battery management systems, powertrain technologies and other new-age mobility solutions. The investment is also expected to enhance the company’s product portfolio and strengthen its position in India’s fast-growing electric vehicle market.
Commenting on the development, Karan Thapar, Chairman of Greaves Cotton Limited, said, “Our strong financial position enables us to support businesses that have long-term growth potential. Our continued investment in Greaves Electric Mobility reflects our confidence in its strategy, execution capabilities and its contribution to India’s clean mobility journey. With a strong manufacturing base, engineering expertise and a growing portfolio of products built for Indian customers, the company is well positioned to sustain its growth momentum and create long-term value.”
The latest investment will support the expansion of Greaves Electric Mobility’s electric two-wheeler and three-wheeler businesses while driving innovation in vehicle technology and product development. The company said the additional funding will also strengthen its engineering capabilities and support faster execution in an increasingly competitive electric vehicle market.
Although the company has decided not to utilise the extension provided by the Securities and Exchange Board of India (SEBI) for its proposed public offering, it reiterated its intention to pursue a stock market listing at an appropriate time, subject to market conditions, regulatory approvals and other relevant considerations.
Vikas Singh, Managing Director of Greaves Electric Mobility Limited, said the successful completion of the Rights Issue demonstrates the confidence of existing shareholders in the company’s long-term vision. “We appreciate the continued support of our shareholders. Their participation reinforces confidence in our strategy and growth plans. As electric mobility adoption accelerates across India, we remain focused on delivering products designed for Indian customers while strengthening our technology capabilities and expanding our product pipeline. This investment will help us accelerate innovation and support the country’s clean mobility goals,” he said.
Greaves Electric Mobility has continued to strengthen its presence across the electric two-wheeler and three-wheeler segments through an expanding portfolio of products, wider retail and service coverage, and ongoing investments in manufacturing, engineering and customer experience. The company remains focused on making electric mobility more accessible while developing solutions tailored to the needs of Indian consumers.
Greaves Cotton Limited is a diversified engineering company with a legacy of more than 165 years. The company operates across energy solutions, mobility solutions and industrial solutions, delivering products and technologies for a wide range of applications. It is one of India’s leading manufacturers of single-cylinder diesel engines and has expanded into electric mobility through Greaves Electric Mobility Limited, which offers electric two-wheelers and three-wheelers under the Ampere and Greaves 3 Wheelers brands.
The Greaves Group also includes Greaves Finance Limited, an electric vehicle-focused non-banking financial company providing financing solutions to support EV adoption across India. Through innovation, engineering excellence and customer-focused solutions, Greaves continues to support sustainable mobility and industrial development.
