Mumbai, July 10 -- The board approved subscribing to the company's full entitlement in the rights issue, involving an investment of up to Rs 331 crore.

Greaves Cotton said the proposed investment underscores its continued commitment to Greaves Electric Mobility and reflects confidence in the subsidiary's growth strategy. The capital infusion is expected to support GEML's efforts to strengthen its position in India's rapidly evolving electric mobility market.

Parag Satpute, managing director (MD) & Group CEO, Greaves Cotton, said: "Our proposed investment in Greaves Electric Mobility reflects our conviction in the long term opportunity presented by India's transition to sustainable mobility. Backed by a strong balance sheet, healthy cash...