Announced Fri, 10 Jul · 11:44 IST
Greaves Cotton to invest up to 331 crore in EV subsidiary rights issue
Compliance View source PDF
GREAVESCOT · price
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AI summary
Greaves Cotton's board approved subscribing to the rights issue of subsidiary Greaves Electric Mobility (GEML), investing up to about 331 crore by fully subscribing its entitlement. This reflects continued commitment to the EV mobility business. Greaves Cotton cited its strong balance sheet and healthy cash position. GEML is also separately planning an IPO and had filed a DRHP with SEBI in December 2024.
Likely market impact
Cash outflow of up to 331 crore into subsidiary, signals confidence in EV business and supports GEML's pre-IPO capital needs.