Greaves Cotton has informed that Greaves Electric Mobility (GEML), a material subsidiary of Greaves Cotton, has converted a loan of Rs 94,85,52,471 (Rupees Ninety-Four Crores Eighty-Five Lakhs Fifty-Two Thousand Four Hundred and Seventy-One) into equity shares of Bestway Agencies (BAPL). Following this allotment, BAPL continues to be the wholly owned subsidiary of GEML. Details as required under SEBI Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024 are enclosed as Annexure - I.
The above information is a part of company’s filings submitted to BSE.
