- Greaves total investment in Ampere now stands at Rs 120.49 crore
- 25,73,529 equity shares purchased at Rs 38.49 crore
- Stake increased from 67.34 per cent to 81.23 per cent
After acquiring 67.34 per cent stake in Ampere in October 2018, Greaves Cotton, one of the most diversified engineering companies in India, has announced another investment in the Coimbatore-based start-up. Greaves stake in the company has now ascended from 67.34 per cent to 81.23 per cent. The company has acquired 25,73,529 equity shares in its subsidiary, Ampere vehicles, through primary and secondary purchase for a total consideration of Rs 38.49 crore. The latest investment by Greaves can be seen as part of a long-term growth strategy by the company to offer superior products and services in the growing e-Mobility space.
In the Indian electric two-wheeler industry, Ampere offers a range of affordable low-speed and high-speed electric scooters. The products have been designed keeping the affordability of the vehicle in check in comparison to conventional petrol-powered scooters. Currently, Ampere has a steadily growth in the EV space along with further expansion of Greaves Retail footprint to 325 outlets. Greaves' total investment in Ampere vehicles now stands at Rs 120.49 crore (including control premium).
