India, July 10 -- Greaves Cotton Ltd has approved participation in the proposed rights issue of its material subsidiary, Greaves Electric Mobility Ltd (GEML), with an investment of up to ?331 crore to fully subscribe to its entitlement.
The proposed investment underscores the company's continued commitment to strengthening GEML and its confidence in the long-term growth potential of India's electric mobility sector.
Greaves Cotton said the investment is backed by its strong balance sheet and disciplined capital allocation strategy, and is aligned with its long-term vision of building future-ready businesses while creating sustainable value for stakeholders.
Published by HT Digital Content Services with permission from Dion Global Solutio...