Greaves Cotton has completed first stage acquisition of 60% shareholding (on a fully diluted basis) in Excel Controlinkage (Excel). Earlier, the company had entered into a definitive agreement for the multi-tranche acquisition of Excel ControLinkage. Greaves Cotton, in February 2023, announced the signing of the binding term sheet to acquire a 100% stake through multiple tranches in Excel ControLinkage.
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.