Greaves Electric Mobility has announced that its ₹530 crore Rights Issue has been fully subscribed by its existing shareholders, including parent company Greaves Cotton Limited (GCL) and Abdul Latif Jameel Green Mobility Solutions (ALJ). The equity infusion underscores continued shareholder confidence in the company’s long-term growth strategy and its role in advancing India’s electric mobility ecosystem.
According to the company, the fresh capital will be used to strengthen its next phase of growth by investing in next-generation electric vehicles, battery management systems (BMS), powertrains and new-age technology development. The funding is also expected to support the expansion of the company’s electric two-wheeler and three-wheeler portfolio in India’s rapidly evolving EV market.
Greaves Electric Mobility, which operates the Ampere electric two-wheeler brand and Greaves 3 Wheelers, said the investment reflects the long-term commitment of its anchor shareholders towards building sustainable mobility solutions for India.
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Commenting on the development, 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 company stated that the investment will further strengthen technology development while supporting execution in an increasingly competitive electric vehicle market. It also noted that although it has currently decided not to avail itself of SEBI’s extension for the proposed public offer, it remains committed to pursuing a public listing at an appropriate time, subject to market conditions, regulatory approvals and other relevant considerations.
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Commenting on the investment, 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.”
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The announcement comes as Greaves Electric Mobility continues to expand its presence across India’s electric two-wheeler and three-wheeler segments through investments in engineering, manufacturing, retail expansion and customer experience. The company said its long-term focus remains on delivering smart, sustainable and accessible mobility solutions built for Indian consumers.
