Greaves Cotton to invest up to Rs 331.12 cr in EV subsidiary rights issue

Board & Shareholder Meetings View source PDF

GREAVESCOT · price

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AI summary

Greaves Cotton board approved subscribing to equity shares issued by its material subsidiary Greaves Electric Mobility Limited under a rights issue, up to its full entitlement of about Rs 331.12 crore. Board also authorized its Risk, Strategy and Investment Committee to pick up any unsubscribed shares, directly or through affiliates, subject to regulatory approvals.

Likely market impact

Capital deployment of Rs 331.12 crore into EV arm; shows continued commitment to electric mobility growth and subsidiary funding.