Bikewo Green Tech Limited has entered into a strategic partnership with PositiEV Mobility Private Limited to acquire a 51% majority stake, aiming to create an integrated electric mobility platform. The proposed transaction, announced on July 2, 2026, is subject to satisfactory due diligence, mutually agreed valuation, execution of definitive agreements, and applicable corporate and regulatory approvals. This move is designed to combine EV retail, leasing, financing, charging infrastructure, battery swapping, fleet solutions, and after-sales services under a single ecosystem to address challenges slowing EV adoption in India.

The MoU outlines the mutual intention of both parties to pursue the transaction, which will also see a leadership change. Upon successful completion, Mr. Hiten Pal Saklani, Founder of PositiEV Mobility, is proposed to assume the role of Chief Executive Officer of Bikewo Green Tech Limited, subject to Board approval. The integration aims to leverage PositiEV Mobility's expertise in EV distribution, leasing, and infrastructure with Bikewo Green Tech's vision of a scalable, technology-driven mobility platform.

Manideep Katepalli, Chairman and Managing Director of Bikewo Green Tech Limited, highlighted the strategic fit of the partnership. He stated that PositiEV Mobility's capabilities across distribution and infrastructure align with Bikewo Green Tech's vision. Katepalli emphasized that Hiten Pal Saklani's deep understanding of the EV ecosystem and entrepreneurial experience make him the ideal leader to drive the company's next phase of growth.

PositiEV Mobility, founded by Hiten Pal Saklani, operates a technology-enabled platform focused on commercial EV distribution and leasing. The company integrates financing, charging infrastructure, maintenance, and fleet operations, connecting OEMs, dealers, NBFCs, fleet operators, and infrastructure partners. Saklani noted that India's EV transition depends on a robust ecosystem supporting financing, charging infrastructure, and fleet management, which this partnership aims to build.

The following table summarizes the key details of the proposed transaction:

Upon completion, the company plans to strengthen partnerships with OEMs, financial institutions, and charging infrastructure providers. The goal is to expand its footprint across EV distribution, leasing, digital mobility, and clean energy infrastructure, thereby accelerating India's transition towards sustainable mobility.

Manideep Katepalli, along with Persons Acting in Concert (PAC), has confirmed holding 71,65,825 equity shares in Bikewo Green Tech Limited as of the financial year ended March 31, 2026. The disclosure, submitted to the National Stock Exchange of India Limited, confirms that no shares were encumbered directly or indirectly during this period. This declaration was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The filing serves as an intimation to the exchange regarding the shareholding status and the absence of any encumbrance on the shares held by the promoter group. The registered office of Bikewo Green Tech Limited is located at H.No. 1-90/7/B/38, Flat No. 201, 2nd Floor, Lakshmi Sai Damam, Road No. 5, Patrika Nagar Madhapur, Hyderabad, Telangana.

Shareholding Details

The disclosure provides specific details regarding the shareholding and the regulatory compliance status for the financial year FY26.

The declaration was signed and submitted by Manideep Katepalli on April 7, 2026, from Vijayawada. The document was addressed to the Manager of the National Stock Exchange of India Limited for information and record-keeping purposes.