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Greaves Cotton’s arm allots 35.80% stake to Abdul Latif Jameel

24 Jun 2022 Evaluate

Greaves Cotton’s subsidiary -- Greaves Electric Mobility has allotted 68,35,450 equity shares of face value Rs 10 each representing 35.80% shareholding in the Company on a fully diluted basis, to Abdul Latif Jameel, by way of preferential allotment through private placement basis for a share subscription consideration of Rs 1,171 crore ($150 million).

Following the allotment, the Company continues to be a subsidiary of Greaves Cotton and the resultant shareholding of Greaves Cotton in the Company on a fully diluted basis is now 61.38%.

Earlier, Saudi Arabia-based family-owned, diversified global investor and operator Abdul Latif Jameel had committed to invest up to $220-million in Greaves Cotton's e-mobility arm -- Greaves Electric Mobility. As part of the deal, Jameel will initially pump in $150-million for a 35.8 per cent stake in the company, making it the second-largest shareholder in the firm.

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.

Greaves Cotton Share Price

160.05 -1.35 (-0.84%)
20-Apr-2026 11:22 View Price Chart
Peers
Company Name CMP
Cummins India 5165.95
Greaves Cotton 160.05
Swaraj Engines 4034.30
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