Greaves Electric Mobility Limited (GEML), the electric mobility arm of Greaves Cotton Limited and the parent company of the Ampere and Greaves 3 Wheelers brands, has successfully raised ₹530 crore through a fully subscribed Rights Issue. The capital raise was backed entirely by the company’s existing shareholders, including Greaves Cotton Limited (GCL) and Abdul Latif Jameel Green Mobility Solutions (ALJ), reflecting their continued confidence in GEML’s growth strategy and its contribution to India’s clean mobility transition.
The fresh capital will support GEML’s next phase of expansion by accelerating the development of next-generation electric mobility products, advanced Battery Management Systems (BMS), powertrain technologies and new-age automotive innovations. The investment also underscores the long-term commitment of the company’s anchor shareholders to strengthening GEML’s technology capabilities and enhancing its position in India’s rapidly evolving electric mobility market.
Speaking on the investment, Mr. Karan Thapar, Chairman, Greaves Cotton Limited, 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-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, Mr. Vikas Singh, Managing Director, Greaves Electric Mobility Limited, 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.
