Key Appointment Details
Greaves Finance Limited (GFL), a wholly-owned subsidiary of Greaves Cotton Limited, appointed Mukul Kanchan as its Executive Director & Chief Executive Officer. The appointment is effective from October 1, 2026, and is subject to necessary approvals.
Executive Background
Mukul Kanchan brings nearly two decades of experience across lending, corporate finance, private equity, and M&A. He joins from Bengaluru-based employee benefits platform Plum, where he served as CFO leading finance, legal, compliance, fundraising, investor relations, and strategic transactions. Previously, he spent six years at Clix Capital, playing a key role in its 2016 acquisition of GE Capital's India lending businesses. He began his career with The D. E. Shaw Group and EY in private equity, investment banking, and advisory roles. Mukul holds an MBA in Finance from ICFAI Business School (IBS), Hyderabad.
Strategic Role and Responsibilities
Mukul will lead GFL's next phase of growth, scaling tailored financing for electric two-wheeler buyers through ev.fin, GFL's 100% EV-focused lending platform. Launched in 2023, ev.fin is GFL's consumer finance technology platform for electric mobility that works with EV manufacturers and their dealer networks to offer financing at the point of sale. The platform currently serves customers across 86 cities.
At GFL, Mukul will focus on deepening ev.fin's partnerships with EV OEMs (including brands like Ampere), broadening the company's funding base, and building a scalable, well-governed lending franchise with strong credit discipline.
Executive Commentary
Mukul Kanchan stated: "Electric two-wheelers are fast becoming the everyday choice for India's commuters, gig workers and small businesses, and access to simple, fair credit is often what turns that intent into ownership. ev.fin has built strong foundations with leading EV OEM's across the country. I am delighted to join Greaves Finance, and I look forward to scaling the business responsibly, with sharp credit discipline, a diversified funding base and partnerships that make EV ownership easier for more Indians."
Company Background
Greaves Finance Limited is described as India's only EV-focused non-banking financial company (NBFC) through its 100% EV-focused lending platform ev.fin. The company's mission is to democratize the EV experience by providing innovative financing solutions exclusively tailored to electric vehicle ownership.