Funding · Mobility & Logistics

Greaves Electric Mobility raises ₹530 crore via rights issue

By Startup Enthusiast · 3 August 2026

What they do

Greaves Electric Mobility makes electric scooters, motorcycles, and three-wheelers for passengers and cargo

It raised ₹530 crore through a rights issue fully subscribed by existing shareholders Greaves Cotton and Abdul Latif Jameel

The company deferred its planned public listing but remains committed to going public when market conditions are right

Greaves Electric Mobility raised ₹530 crore through a rights issue (a way to raise money by offering existing shareholders the right to buy new shares at a discount).
The rights issue was fully subscribed by its existing shareholders.
The subscribers were Greaves Cotton and Abdul Latif Jameel Green Mobility Solutions, in proportion to their existing shareholding.
The company will use the capital for next-generation products, battery management systems, power trains, and new-age technology development.
It aims to accelerate its electric two-wheeler and three-wheeler segments.
It will also expand its retail and service network and invest in engineering, manufacturing, and customer experience.
The company deferred its proposed public listing and is not using Sebi's extension for the deadline.
It remains committed to listing at an appropriate time subject to market conditions and regulatory approvals.

The rights issue strengthens the company's balance sheet without going to external investors.
The company is focusing on organic growth and selective investments, according to Chairman Karan Thapar.
The deferral of the IPO suggests the company is waiting for better market conditions or valuation.

Greaves Electric Mobility is the electric mobility arm of Greaves Cotton.
It manufactures electric two-wheelers including scooters and motorcycles.
It also makes electric three-wheelers for passenger and commercial segments like rickshaws and cargo vehicles.
The company claims ~3 lakh happy customers.
It says it has saved 84 million+ litres of petrol and driven 3.8 billion+ e-kilometers.
It reports saving 1.5 lakh+ tons of CO2, equivalent to planting 5.9 million+ trees.

The company will use the funds to develop next-generation products, battery management systems, and power trains.
It will accelerate its electric two-wheeler and three-wheeler segments.
It plans to expand its retail and service network.
It will invest in engineering, manufacturing, and customer experience.
The company remains committed to listing at an appropriate time subject to market conditions and regulatory approvals.

Greaves Cotton (existing shareholder) — A diversified engineering company founded in 1945, with presence in automotive, non-automotive, aftermarket, retail, electric mobility, and finance.
Abdul Latif Jameel Green Mobility Solutions (existing shareholder) — A private family-owned global investor, diversified across transportation, mobility, and financial services.