Greaves Cotton increases stake in Ampere Vehicles
15th Jul 2019

Greaves Cotton has acquired 25,73,529 equity shares in its subsidiary Ampere Vehicles by way of investment through primary and secondary purchase for a total consideration of Rs 38.49 crore.

With this investment, the company has increased its holding in Ampere to 81.23% from 67.34%. This investment follows the acquisition of Ampere Vehicles by Greaves in October 2018 with 67.34% stake for Rs 77crore. Greaves total investment in Ampere now stands at Rs 120.49 crore (including control premium) for 81.23% stake.

The investment is part of Greaves' long-term growth strategy to deliver superior products & services in last-mile e-Mobility space, which is seeing significant interest from various quarters.

Greaves Cotton, a multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and Gensets.