MoneyWorks4Me

Greaves Cotton’s arm acquires entire stake in Bestway Agencies

23 Oct 2021 Evaluate

Greaves Cotton’s E-Mobility subsidiary -- Greaves Electric Mobility has acquired entire stake in Bestway Agencies (BAPL) which sells E-Rickshaws under the popular ELE brand. With this strategic acquisition, the company has strengthened position to become one of largest player now catering to 85% of the last mile mobility segment. The company continue to mobilize India ahead, generate gainful employment for e3W users seeking sustainable livelihood opportunities & thus contribute towards building the nation responsibly.

Last year in July, the company had first declared their intervention with Bestway with 74% stake and added e-rickshaw as part of the portfolio offerings.

Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day.

Peers
Company Name CMP
Cummins India 4828.10
Kirloskar Oil Engine 2243.65
Greaves Cotton 221.00
Swaraj Engines 3522.85
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