Wednesday, November 6

Tag: Greaves Cotton

Ratan Tata Gains Double for Investment in Ampere Vehicles
News

Ratan Tata Gains Double for Investment in Ampere Vehicles

It was last week that the chairman of Tata Trusts sold his entire equity holding in Ampere Vehicles to an engine manufacturer Greaves Cotton which is based in Mumbai. Following this move, the former Tata Sons Chairman Ratan Tata is believed to have gained more than twice his investment. The investment of Tata amounted to about Rs 3 crore in Coimbatore-based electric vehicle start-up in his personal capacity in mid-2015.  This also marked his first ever investment in an auto company. “Tata sold his stake in Ampere, earning more than two times. Most investors made similar returns. Kris (Gopalakrishnan) came into the company later, so his returns could have been lower than Tata’s,” a source said. Greaves Cotton stated that the company will take over Ampere for Rs 77 crore. This will valu...
Mumbai-based Engine Maker to Acquire Majority Stake in Ampere Vehicles
ACQUISITION

Mumbai-based Engine Maker to Acquire Majority Stake in Ampere Vehicles

One of the most diversified Indian engineering company Greaves Cotton Ltd is reportedly acquiring a majority stake in electric two-wheeler manufacturer Ampere Vehicles. Following the deal, Greaves Cotton which is based in Mumbai will be acquiring 67% of Ratan Tata-backed Ampere for Rs 77 crore. Furthermore, according to company’s statements, Greaves may also buy out another 13% of the Coimbatore-based company for Rs 75.5 crore after three years. The first part of the deal is expected to be closed by the end of December, subject to customary closing conditions. This deal will value the ten year old electric maker Ampere at Rs 115 crore. With this acquisition, Greaves  is planning to boost up its product and technology development process especially for last mile mobility in the ele...