Greaves Cotton rises on approving further investment of Rs 22 crore in Greaves Finance
Greaves Cotton is currently trading at Rs. 217.60, up by 1.95 points or 0.90% from its previous closing of Rs. 215.65 on the BSE.
The scrip opened at Rs. 216.00 and has touched a high and low of Rs. 220.90 and Rs. 214.75 respectively. So far 115178 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 319.50 on 30-Dec-2024 and a 52 week low of Rs. 154.50 on 13-Nov-2024.
Last one week high and low of the scrip stood at Rs. 226.05 and Rs. 212.80 respectively. The current market cap of the company is Rs. 5100.46 crore.
The promoters holding in the company stood at 55.81%, while Institutions and Non-Institutions held 5.98% and 38.21% respectively.
Greaves Cotton has approved a further investment of around Rs 22 crore in its wholly owned subsidiary, Greaves Finance (GFL), by way of subscription to the equity shares offered on a rights basis. Proceeds from the further issue of shares will be utilized by GFL towards capitalization of its borrowings.
The said transaction is expected to be completed on or before September 28, 2025. There will be no change in the shareholding of the company in GFL, and it will continue to remain a wholly owned subsidiary of the company.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of several years impacting a million lives every day.
