Greaves Cotton Limited — JV/Acquisition, 05-06-2025: Acquisition

Greaves Electric Mobility (GEML) has converted a Rs 94.85 Cr loan into equity in its fully owned unit, Bestway Agencies Pvt Ltd (BAPL), which makes ELE brand E-Rickshaw and E-3Wheeler components with a Rs 72 Cr turnover (FY25). This debt-to-equity move strengthens BAPL’s balance sheet without cash outflow, supporting GEML’s clean mobility push and solidifying Greaves’ hold in the e-vehicle parts segment.