Greaves Electric Mobility Secures INR 530 Crore Equity Infusion to Accelerate EV Innovation

Greaves Electric Mobility (GEML), the e-mobility business of Greaves Cotton, announced an additional equity infusion of INR 530 crore through a Rights Issue. The investment is fully subscribed by the existing shareholders in proportion to their existing shareholding, including Greaves Cotton (GCL) and Abdul Latif Jameel Green Mobility Solutions (ALJ), reaffirming their continued confidence in GEML’s strong momentum and its role in advancing India’s clean mobility transition. The investment reinforces the long-term commitment of GEML’s anchor shareholders. 

The capital infusion is aimed at strengthening the GEML’s next phase of growth towards building Next Generation products, Battery Management Systems, Power Trains and New age Technology development. 

Speaking on the investment, Karan Thapar, Chairman, Greaves Cotton, 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. With its manufacturing footprint, engineering depth, expanding portfolio and focus on Building for Bharat, GEML is well placed to sustain its market-out-outperforming growth and create enduring value.” 

The investment will strengthen GEML’s electric two-wheeler and three-wheeler portfolio, deepen technology development and support execution in a competitive, fast-adopting EV market. While GEML has presently decided not to avail itself of the SEBI extension for the proposed Offer, it remains committed to pursuing a public listing at an appropriate time, subject to market conditions, regulatory approvals and other relevant considerations. 

Commenting on the development, Vikas Singh, Managing Director, Greaves Electric Mobility, 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. As India’s electric mobility market moves towards mass adoption, we remain focused on supporting the country’s clean mobility goals through differentiated products Built for Bharat, stronger technology capabilities and reliable mobility solutions for our customers. This capital will help us accelerate innovation and further strengthen our product pipeline.” 

The investment comes at a time when Greaves Electric Mobility continues to deliver industry-beating performance across both the electric two-wheeler and three-wheeler segments through a growing portfolio of products, an expanding retail and service network, and continued investments in engineering, manufacturing and customer experience. Its strategic focus remains anchored in democratizing smart and sustainable mobility while delivering solutions that are Built for Bharat.