Greaves Cotton has acquired additional 10% (approximately) of the shareholding, for a consideration of Rs 62.38 crore, in Excel Controlinkage (Excel), material subsidiary of the Company, through secondary route. With this, the Company’s aggregate shareholding in Excel would be approximately 70% with effective from August 13, 2024.
In the event the proposed acquisition takes place in accordance with definitive documents, the acquisition will be in line with the Company’s strategy to diversify into new product categories with the intent to strengthen its presence in commercial vehicles and develop the complete mobility ecosystem.
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.
