Please find attached herewith intimation relating to GEML Loan being converted into equity shares of Bestway Agencies Private Limited.
GREAVESCOT · price
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Greaves Cotton's material subsidiary Greaves Electric Mobility Limited (GEML) has converted a loan of about Rs. 94.86 crore into equity shares of Bestway Agencies Private Limited (BAPL), its wholly owned subsidiary. BAPL manufactures and supplies ELE brand E-Rickshaw and E-3Wheeler parts, with a turnover of Rs. 72.01 crore in FY25 (down from Rs. 95.07 crore in FY24). The conversion was completed on June 4, 2025, involves no cash outflow, and is aimed at strengthening BAPL's net worth by reducing its debt. BAPL continues to remain a wholly owned subsidiary of GEML after the allotment, and the transaction is classified as a related party transaction done at arm's length within the group structure.
This is an internal group restructuring with no impact on Greaves Cotton's shareholding or consolidated financials at the top level. It strengthens the balance sheet of BAPL by converting debt into equity, which is a positive sign for the subsidiary's long-term stability, but is unlikely to materially move Greaves Cotton's stock price.