Greaves Electric Mobility Limited (GEML), the electric mobility arm of Greaves Cotton Limited, has secured an additional equity infusion of ₹530 crore through a fully subscribed rights issue. Existing shareholders, including Greaves Cotton Limited (GCL) and Abdul Latif Jameel Green Mobility Solutions (ALJ), participated in the offering in proportion to their shareholding, reaffirming their confidence in the company’s long-term growth strategy.
The fresh capital will support GEML’s next phase of growth, with investments planned in next-generation products, battery management systems, powertrains and advanced technology development. The funding is also expected to strengthen the company’s position in India’s rapidly expanding electric mobility market.
Commenting on the investment, Karan Thapar, Chairman, Greaves Cotton Limited, 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.”
He added, “With its manufacturing footprint, engineering depth, expanding portfolio and focus on Building for Bharat, GEML is well placed to sustain its market-outperforming growth and create enduring value.”
The company said the investment will further strengthen its electric two-wheeler and three-wheeler portfolio, deepen technology capabilities and support execution in an increasingly competitive EV market. While GEML has decided not to avail itself of the SEBI extension for the proposed public offer at present, it remains committed to pursuing a listing at an appropriate time, subject to market conditions and regulatory approvals.
Vikas Singh, Managing Director, Greaves Electric Mobility Limited, said, “We are grateful for the full subscription of the rights issue by our existing shareholders. Their continued support reflects strong confidence in Greaves Electric Mobility’s vision, strategy and execution momentum.”
“This capital will help us accelerate innovation and further strengthen our product pipeline as we continue to support India’s clean mobility goals through products built for Bharat,” he added.
