Key Event Details
Greaves Cotton Limited intimated that GEML's INR 530 crore rights issue was fully subscribed and the Board of GEML approved allotment of equity shares to all eligible shareholders on 02nd August 2026.
Company's Participation
The company subscribed to its full entitlement of approximately INR 331.12 crore in the rights issue. The transaction was completed on 02nd August 2026.
Shareholding Impact
Post-allotment, Greaves Cotton Limited's shareholding in GEML remains unchanged at 62.48%. GEML continues to be a material subsidiary of the company.
Transaction Details
- Consideration: Cash consideration
- Total rights issue size: INR 530 crore
- Company's subscription amount: INR 331.12 crore
- Transaction completed on: 02nd August 2026
- No governmental or regulatory approvals required
GEML Business Profile
Greaves Electric Mobility Limited (GEML) was incorporated on 02nd June 2008 and is primarily engaged in designing and manufacturing electric two-wheelers and three-wheelers for personal mobility, industrial applications, and goods movement.
Financial Highlights of GEML
- Turnover FY 2025-26: INR 596.98 crore
- Turnover FY 2024-25: INR 444.31 crore
- Turnover FY 2023-24: INR 433.84 crore
- Net worth as on 31st March 2026: INR 117.75 crore
- Country of presence: India
Utilization of Proceeds
The rights issue proceeds will be utilized by GEML inter-alia towards capital expenditure, working capital requirements, and general corporate purposes.
Document References
- SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026
- Follows previous intimation dated 09th July 2026 regarding board approval