Greaves Cotton Limited — JV/Acquisition, 14-08-2026: Acquisition

Greaves Cotton has completed the acquisition of Excel Controlinkage Private Limited by acquiring the remaining 20% stake, making Excel a wholly-owned subsidiary. Excel is a leader in mechanical and electronic motion control systems, including push-pull cables and levers, serving commercial vehicles and other heavy equipment. The initial acquisition of a 60% stake valued Excel at an enterprise value not exceeding INR 385 Cr. This strategic move strengthens Greaves Cotton's product portfolio and deepens its presence in the complete mobility ecosystem, bringing a growing, margin-leading business fully under its control.