Mercury EV-Tech has appointed 100 new dealers across India over the last four months, strengthening its retail distribution and after-sales service network. The company plans to add another 200 dealers by March 2027 to enhance geographical reach and last-mile accessibility in urban and semi-urban markets.

Distribution Expansion

The appointment of 100 new dealers is part of a broader strategy to enhance accessibility for customers. By increasing the number of touchpoints, the company seeks to improve service delivery and customer engagement. The target of adding 200 more dealers within the next few years indicates a sustained focus on scaling operations.

This expansion aligns with the company's objective of scaling its distribution infrastructure in line with its growing manufacturing capabilities and increasing demand for electric mobility solutions.

Subsidy Eligibility in Gujarat

Mercury EV-Tech has received clearance from the Gujarat Energy Development Agency (GEDA). This regulatory approval makes customers in Gujarat eligible for specific subsidies under the prevailing scheme, which are expected to improve the affordability and adoption of electric vehicles in the region.

These subsidies directly reduce the upfront cost for buyers, potentially driving higher sales volumes in the state. The distinction between two-wheeler and three-wheeler incentives reflects the different price points and usage patterns of these vehicle categories.

What the Numbers Show

The combination of dealer expansion and subsidy eligibility suggests a dual-pronged approach to growth. While the dealer network expansion addresses supply-side constraints by improving availability, the GEDA clearance addresses demand-side barriers by lowering costs. This alignment between distribution reach and financial incentives could accelerate adoption rates in key markets like Gujarat.

Promoter group entity Shree Saibaba Exim Private Limited disposed of 20,00,000 equity shares of Mercury EV-Tech Limited on September 10, 2026. The open market sale reduced the entity’s holding to 18.817%.

The transaction was disclosed under Regulation 7(2)(a) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, and Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company informed both the BSE and NSE on the same date.

Shareholding Changes

Prior to the disposal, Shree Saibaba Exim held 3,77,47,485 equity shares, representing 19.869% of the total voting capital. The post-disposal holding stands at 3,57,47,485 shares.

The total equity share capital of Mercury EV-Tech remains unchanged at 18,99,73,058 shares with a face value of Re. 1/- each. No derivatives trading was reported by the promoter group entity in connection with this transaction.