Greaves Cotton 's subsidiary Greaves Electric Mobility has achieved a significant milestone with its Ampere Magnus Grand winning the Electric Scooter of the Year 2026 award at the Bike India Awards. The company announced this achievement through an official press release filed with stock exchanges on April 6, 2026.

Award Recognition and Product Positioning

The Ampere Magnus Grand's victory at the Bike India Awards represents a notable achievement for Greaves Electric Mobility in the competitive electric scooter market. The award recognizes the vehicle as "India's Best Affordable EV Under ₹1 lakh," highlighting its value proposition in the rapidly evolving electric mobility sector.

Advanced Technology and Key Features

The Magnus Grand is built on a dual-frame chassis engineered for stability and long-term durability. The scooter features advanced Lithium Iron Phosphate (LFP) battery technology with a class-leading 5-year or 75,000 km warranty, designed for enhanced longevity and reliability.

Management Commentary and Market Strategy

Commenting on this recognition, Mr. Vikas Singh, Managing Director and Chief Financial Officer of Greaves Electric Mobility, stated: "This award validates our focus on building reliable, practical and accessible electric mobility solutions for Indian consumers. The Magnus Grand reflects our commitment to redefine urban mobility by combining technology and user-centric design, which is built for real-world performance."

Product Specifications and Design

The Magnus Grand incorporates several premium features including a refreshed digital display for enhanced visibility, sturdy ergonomics with strengthened grab rail, and advanced braking technology. The scooter is available in two premium dual-tone colors - Matcha Green and Ocean Blue - paired with gold-finish badging, providing a contemporary aesthetic appeal.

Market Impact and Company Vision

This award reinforces Greaves Electric Mobility's strategy to democratize sustainable mobility and expand India's electric vehicle adoption. The company positions the Magnus Grand as a practical solution for family riders transitioning to electric mobility, addressing the growing demand for cost-effective and environmentally friendly transportation solutions in the Indian market.

Greaves Cotton Limited has completed the allotment of 10,000 equity shares under its Employee Stock Option Plan 2020, as approved by the company's Nomination and Remuneration Committee through a circular resolution passed on 20th March 2026. The allotment represents the exercise of stock options by an employee option grantee at the predetermined exercise price.

Share Allotment Details

The equity shares were allotted following the exercise of 10,000 stock options under the Greaves Cotton Employee Stock Option Plan 2020. The allotment was executed at specific terms that align with the company's employee incentive framework.

Impact on Share Capital

Following the allotment of these equity shares, Greaves Cotton's capital structure has been updated to reflect the increased shareholding. The newly allotted shares carry the same rights and privileges as the existing equity shares of the company.

Regulatory Compliance

The allotment has been conducted in accordance with the Securities and Exchange Board of India regulations. The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in its employee stock option activities. The newly allotted equity shares shall rank pari-passu with the existing equity shares of the company in all respects, providing equal rights to the option grantee.