Greaves Cotton Limited has approved participation in the proposed rights issue of its material subsidiary, Greaves Electric Mobility Limited (GEML), with an investment of up to ₹331 crore. The decision reflects the company’s continued commitment to strengthening its electric mobility business and supporting its long-term growth strategy.
The Board of Directors has approved subscribing to the company’s full entitlement in the proposed rights issue. The investment is expected to provide additional capital to Greaves Electric Mobility as it expands its product portfolio, strengthens operations and enhances its presence in India’s fast-growing electric vehicle market.
Greaves Electric Mobility has emerged as a key business for the Greaves Group, offering a range of electric two-wheelers and three-wheelers for both passenger and cargo applications. The proposed capital infusion is intended to support business expansion, product development and operational capabilities as demand for electric mobility solutions continues to grow across the country.
Commenting on the development, Parag Satpute, Managing Director & Group CEO, Greaves Cotton Limited, said, “Our proposed investment in Greaves Electric Mobility Limited reflects our confidence in India’s long-term transition towards sustainable mobility. Supported by a strong balance sheet, a healthy cash position and a disciplined capital allocation strategy, we remain focused on building future-ready businesses that deliver long-term value for customers, shareholders and all stakeholders.”
The investment aligns with Greaves Cotton’s broader growth roadmap, which focuses on strengthening its core businesses while expanding into high-potential sectors through its Greaves.Next strategy. The company continues to invest in businesses that support clean mobility, advanced engineering and sustainable technologies.
With a legacy spanning more than 165 years, Greaves Cotton has evolved into a diversified engineering company with operations across mobility, energy and industrial solutions. The company is recognised for its engineering capabilities and has built a strong presence in engines, powertrain solutions and precision manufacturing. It also has a longstanding association with India’s defence sector, supplying products for a range of military and naval applications.
Greaves Cotton’s electric mobility ecosystem includes Greaves Electric Mobility Limited, which manufactures electric two-wheelers and three-wheelers, and Greaves Finance Limited through its EV-focused financing platform, ev.fin, which provides customised financing solutions for electric vehicle buyers. The proposed investment reinforces Greaves Cotton’s long-term commitment to supporting India’s transition towards cleaner transportation while creating sustainable value through technology-driven engineering and mobility solutions. As the electric vehicle market continues to expand, the company remains focused on strengthening its capabilities and supporting the wider adoption of sustainable mobility across the country.
