|20 Oct 2022
|In compliance with the provisions of Regulation 30 of the SEBI Listing Regulations, through our intimations dated 13 August 2021 and 23 October 2021 we informed the stock exchanges about Greaves Electric Mobility Private Limited, subsidiary of the Company (GEMPL) entering into definitive agreement to invest in MLR Auto Ltd (MRL) and subsequent completion of initial acquisition (through primary subscription) of 26% of the equity shareholding in MLR on fully diluted basis respectively. As per the said definitive agreements, GEMPL had the right (not an obligation) to enter into second stage acquisition by increasing its shareholding by another 25% (on fully diluted basis) in MLR within 12 months from the date of closing of the initial acquisition. In this regard, please refer attached letter for additional details.
|View all announcements for GREAVES COTTON LTD.
|Source: BSE India