Greaves Cotton Subsidiary GEML Completes ₹530 Cr Rights Issue

Greaves Cotton Limited's material subsidiary, Greaves Electric Mobility Limited (GEML), has successfully completed its ₹530 Crore rights issue. Greaves Cotton subscribed to its full entitlement of approximately ₹331.12 Crore, maintaining its shareholding at 62.48%. The funds raised by GEML will be utilized for capital expenditure, working capital, and general corporate purposes. GEML is engaged in designing and manufacturing electric two-wheelers and three-wheelers, with a turnover of ₹596.98 Crore as of March 31, 2026.