Elpro International Ltd has increased its shareholding in Greaves Cotton Limited through a fresh acquisition of equity shares worth ₹5.00 crore. The company purchased 2,30,360 shares at a cost of INR 5.00 Crores, taking its total holding in the engineering firm to 4,61,575 equity shares. This strategic investment was executed for investment purposes via cash consideration.

Deepak Kumar Ajmera, Chief Financial Officer of Elpro International, confirmed in a filing to BSE Limited that the transaction is not a related party transaction and does not require specific governmental or regulatory approvals. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Greaves Cotton Limited operates in the compressors, pumps, and diesel engines industry. The company, incorporated on March 29, 1922, has transitioned from a single-cylinder diesel engine manufacturer to a fuel-agnostic mobility solutions provider. It reported a consolidated turnover of ₹3,486.61 crore for the financial year 2025-26.

Financial Performance of Greaves Cotton

The acquisition marks an expansion of Elpro International's portfolio in the engineering sector. Greaves Cotton aims to touch a billion lives by 2030 through its digitally integrated ecosystem across the mobility value chain.

Elpro International Limited promoter IGE (India) Private Limited released a pledge over 1,18,63,539 equity shares, representing 7.00% of the total share capital, on June 23, 2026. This release reduces the entity's total encumbered holding to 58.00% of the company, down from 65.00%, easing the collateral obligations previously secured against debenture issuances.

The disclosure was submitted to BSE Limited on June 24, 2026, by Arpit Tapadia, Director of IGE (India) Private Limited, in compliance with Regulation 31 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The shares were previously pledged in favour of CTL Trusteeship Limited, acting as the Debenture Trustee on behalf of debenture holders.

Breakdown of Holdings

The release of pledge involves IGE (India) Private Limited, which held 11,01,61,433 shares as encumbered prior to this transaction. Following the release, the entity's encumbered holdings stand at 9,82,97,894 shares. Other promoter group members, including R.C.A. Limited, Yamini Dabriwala, and Surbhit Dabriwala, reported no changes to their encumbrance status.

Regulatory Compliance

The filing confirms that the reason for the release is the satisfaction of the previous obligations related to the issuance of debentures by the company or its group companies. CTL Trusteeship Limited clarified that it does not belong to the promoter or promoter group of the target company. The total equity share capital of Elpro International Limited stands at ₹16,94,79,130, divided into 16,94,79,130 equity shares of ₹1 each.