Greaves Electric Mobility Private Limited announced on Tuesday the completion of a fully subscribed rights issue of Rs 530 crore to fund its ongoing product development and operational expansion.
The proceeds will be deployed toward next-generation electric vehicles, powertrain development, advanced battery management systems, and customer experience enhancements. The successful capital raise follows the company's highest quarterly performance in Q1 FY27, where consolidated revenue reached Rs 270 crore, representing a 97 percent year-on-year growth.
Electric Two-Wheeler Market Share Rises to 5.6% in June 2026
According to VAHAN registration data, electric two-wheeler volumes doubled with a 101 percent year-on-year increase. This volume growth expanded the company's market share in the electric two-wheeler segment from 4.3 percent in FY26 to 5.6 percent in June 2026, maintaining its position among the top six manufacturers in India.
Vikas Singh on Greaves Electric Mobility's Record Q1 FY27
"Q1 FY'27 has been our strongest quarter to date," said Vikas Singh, Managing Director of Greaves Electric Mobility. He added, "The good reception for our new products, record growth in volumes, increasing market share and the successful rights issue, all reinforce the strength of our strategy."