Greaves Electric Mobility Secures ₹530 Crore Equity Infusion via Fully Subscribed Rights Issue

Greaves Electric Mobility Limited (GEML), the electric mobility arm of Greaves Cotton Limited (GCL), has announced the successful completion of an additional equity capital infusion of ₹530 crore through a Rights Issue. The issue was fully subscribed by existing shareholders in proportion to their shareholding, backed prominently by anchor investors Greaves Cotton Limited and Abdul Latif Jameel Green Mobility Solutions (ALJ). The full subscription underscores strong shareholder confidence in GEML's strategic direction and its role in advancing clean mobility in India.

The newly raised capital will be deployed to support the company's next phase of growth. GEML plans to direct these resources toward developing next-generation electric vehicles, in-house Battery Management Systems (BMS), proprietary powertrains, and new-age technologies. The funding is also aimed at expanding its product portfolio across the electric two-wheeler and three-wheeler segments, which includes the Ampere and Greaves 3 Wheelers brands, while strengthening its technology base in an increasingly competitive market.

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Regarding future public market plans, GEML clarified that while it has opted not to utilise the SEBI extension for its proposed public offer at present, the company remains committed to pursuing an initial public offering (IPO) at a suitable time, subject to market conditions and regulatory approvals. Operating through manufacturing facilities in Hyderabad, Noida, and Ranipet alongside a national network of 400 dealer touchpoints, GEML continues to expand its footprint in the EV sector.