Greaves Electric Mobility’s Rs 530 crore rights issue offer gets fully subscribed

According to chairman Karan Thapar, GCL’s strong balance sheet enabled the company to selectively invest in businesses with clear long-term potential. “With its manufacturing footprint, engineering depth, expanding portfolio and focus on Building for Bharat, Greaves Electric Mobility is well placed to sustain its market-outperforming growth, and create enduring value,” He said, as per the company’s regulatory filing.

“This capital will help us accelerate innovation and further strengthen our product pipeline,” said MD Vikas Singh.

GEML has decided to defer its proposed public listing, opting not to avail itself of Sebi's extension for the offer. The company said it remains committed to pursuing the listing at an appropriate time, subject to market conditions, regulatory approvals and other relevant considerations.

Through this latest investment, the company aims to accelerate performance of its electric two-wheeler and three-wheeler segments with a growing portfolio of products, an expanding retail and service network, and continued investments in engineering, manufacturing and customer experience.

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