Upcoming Ampere Scooters Could Launch Sooner: Here’s Why
A fully subscribed stock issue has infused additional capital for development of new technologies and products
Ampere’s parent company Greaves Electric Mobility Limited (GEML) has raised Rs 530 crore through a fully subscribed rights issue. The investment has been made by its existing shareholders, including Greaves Cotton Limited and Abdul Latif Jameel Green M
The company will use the fresh funds to support its growth in the electric two-wheeler and three-wheeler segments. Currently Ampere has four electric scooters on sale: Ampere Magnus G Max, Reo, Magnus Neo, and Nexus. The money will also be used to develop new products, battery management systems, electric powertrains and other new-age technologies.
GEML currently operates in the electric two-wheeler market through Ampere and in the electric three-wheeler segment through Greaves 3 Wheelers. The company is looking to strengthen its product portfolio and technology as demand for electric vehicles continues to grow in India. Greaves Cotton Chairman Karan Thapar said the investment reflects the company’s confidence in GEML’s growth plans and its role in India’s shift towards clean mobility. GEML Managing Director Vikas Singh said the funds will help the company accelerate innovation and strengthen its upcoming product pipeline.
GEML has currently decided not to use the SEBI extension for its proposed public listing. However, the company remains committed to an IPO (Initial Public Offering) at an appropriate time, depending on market conditions and regulatory approvals.
