Greaves Electric Mobility successfully raises Rs 530 cr via rights issue

Greaves Electric Mobility (GEML) announced an additional equity infusion of Rs 530 crore through a rights issue. The investment is fully subscribed by the existing shareholders in proportion to their existing shareholding, including Greaves Cotton (GCL) and Abdul Latif Jameel Green Mobility Solutions (ALJ), reaffirming their continued confidence in GEML's strong momentum and its role in advancing India's clean mobility transition.

The capital infusion is aimed at strengthening the GEML's next phase of growth towards building Next Generation products, Battery Management Systems, Power Trains and New age Technology development.