Announced Fri, 10 Jul · 11:31 IST
Greaves Cotton to subscribe Rs 331 Cr rights issue of EV subsidiary
Business Updates View source PDF
GREAVESCOT · price
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AI summary
Greaves Cotton's board approved subscribing to its full entitlement in a proposed rights issue of subsidiary Greaves Electric Mobility (GEML), totaling up to about Rs 331 crore. GEML is the company's electric two and three-wheeler arm. GEML has already filed a DRHP with SEBI for a potential IPO. The investment reflects continued commitment to the EV business and India's sustainable mobility push.
Likely market impact
Rs 331 Cr capital outflow into subsidiary signals confidence in EV growth but may limit near-term returns. GEML IPO expected ahead.