Greaves Electric Mobility Invests ₹55 Crore in MLR Auto, Increases Stake to 67.41%
Greaves Electric Mobility Limited (GEML), a subsidiary of Greaves Cotton Limited, has made a strategic investment of ₹55 crore in MLR Auto Ltd through a rights issue of equity shares . This financial move not only reinforces GEML’s commitment to the electric three-wheeler market but also strengthens its control in MLR Auto.
The rights issue allowed existing shareholders to subscribe to new equity shares. However, with other shareholders choosing not to participate , GEML fully subscribed to the issue. As a result, its ownership in MLR Auto increased significantly — from 51% to 67.41% , giving it a greater controlling stake in the company.
The primary objective of the investment is to help MLR Auto repay existing loans , specifically excluding any loans provided by GEML. This infusion is expected to improve MLR Auto’s financial structure, reduce debt-related stress, and provide a clearer runway for growth and operational efficiency.
This move aligns with GEML’s broader strategy to strengthen its presence in the electric vehicle ecosystem, particularly in the rapidly expanding last-mile mobility segment. MLR Auto, known for manufacturing electric three-wheelers under the “Teja” brand, plays a critical role in Greaves’ EV strategy.
With this development, GEML not only increases its stake but also deepens its influence over MLR Auto’s strategic direction, ensuring stronger alignment with its long-term goals of creating a cleaner and more efficient electric mobility infrastructure in India.
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