Greaves Cotton’s material subsidiary -- Greaves Electric Mobility (GEML) has further invested Rs 55 crore by way of subscription in the ordinary equity shares of face value Rs 10 each of its subsidiary - MLR Auto (MLR), on right basis at par. Following this investment, and due to the non-participation of MLR's other existing shareholders in the rights offer, GEML's shareholding in MLR increased from 51% to 67.41% of the total shareholding.
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 several years impacting a million lives every day.
