Greaves Cotton , a diversified engineering company, has announced a strategic move to strengthen its position in the electric vehicle (EV) financing sector. The company has approved an investment of ₹22 crore in its wholly-owned subsidiary, Greaves Finance Limited (GFL), to support the expansion of retail e-vehicle financing services.

Investment Details

The investment will be made through a subscription to equity shares offered on a rights basis by Greaves Finance Limited. This infusion of capital is expected to be completed on or before September 28, 2025, as per the company's disclosure to the stock exchanges.

About Greaves Finance Limited

Greaves Finance Limited, incorporated on December 31, 1958, is a non-banking financial company (NBFC) specializing in retail vehicle financing. The company focuses on providing lending solutions to prospective buyers of electric two-wheeler and three-wheeler vehicles. Additionally, GFL offers lease financing options to last-mile delivery and service aggregators.

Financial Performance

GFL has shown significant growth in recent years:

As of March 31, 2025, GFL reported a net worth of ₹80.06 crore.

Purpose of Investment

The proceeds from this rights issue will be utilized by Greaves Finance Limited for the capitalization of its borrowings. This move is expected to strengthen GFL's financial position and enable it to expand its e-vehicle financing services.

Impact on Shareholding

Despite this investment, there will be no change in Greaves Cotton's shareholding in GFL. The subsidiary will continue to remain wholly owned by Greaves Cotton Limited.

Market Implications

This strategic investment underscores Greaves Cotton's commitment to the growing electric vehicle market in India. By bolstering its financing arm, the company aims to facilitate easier access to credit for EV buyers, potentially driving sales and adoption of electric two-wheelers and three-wheelers.

The move aligns with India's push towards electric mobility and could position Greaves Cotton favorably in the evolving EV ecosystem. As the demand for electric vehicles continues to rise, robust financing options are likely to play a crucial role in accelerating market growth.

Greaves Cotton Limited , a diversified engineering company, has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Jehangir Ardeshir as an Independent Director. The company's Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has proposed Mr. Ardeshir's appointment for a term of five consecutive years, from August 1, 2025, to July 31, 2030.

Key Details of the Postal Ballot

• Voting Period: The remote e-voting period begins on September 12, 2025, at 9:00 a.m. IST and ends on October 11, 2025, at 5:00 p.m. IST.
• Results Declaration: The results of the remote e-voting will be declared on or before October 13, 2025.
• Voting Eligibility: Shareholders whose names appear on the Register of Members/list of Beneficial Owners as of September 5, 2025, are eligible to vote.

About Jehangir Ardeshir

Mr. Jehangir Ardeshir brings a wealth of experience to Greaves Cotton Limited:

• Educational Background: Alumni of IIT Kharagpur (1981) and IIM Bangalore (1983)
• Professional Experience:
  • Began his career in 1983 with the Tata Administrative Service
  • Spent 17 years at Tata Steel, rising to the position of Principal Executive Officer
  • Served as CEO of Tata Quality Management Services
  • Held positions as President of Tata Teleservices Pvt Ltd, President and MD of Terex India Pvt Ltd, and Group CEO of Forbes Marshall

Current Directorships

Mr. Ardeshir currently serves as an Independent Director on the boards of:

• Cyient DLM Ltd
• Walchand PeopleFirst Ltd
• Premium Transmission Ltd
• Premium Care Pvt Ltd

Appointment Details

• Appointment Date: August 1, 2025 (as Additional Director in the capacity of Independent Director)
• Proposed Term: 5 years (subject to shareholder approval)
• Qualifications: The Board has determined that Mr. Ardeshir meets all criteria for independence and is independent of the management of the company.

Shareholder Voting Process

Greaves Cotton has provided electronic voting facilities to its shareholders in compliance with regulatory requirements. The company has engaged KFin Technologies Limited as the e-voting service provider.

Shareholders are encouraged to participate in the voting process to express their decision on this important appointment. The resolution, if passed by the requisite majority, will be deemed to have been passed on October 11, 2025, the last date of remote e-voting.

This move by Greaves Cotton to appoint Mr. Jehangir Ardeshir as an Independent Director aligns with the company's commitment to strong corporate governance and leveraging diverse expertise on its board.