Other Private Equity/Strategic Investments
Ampere Vehicles to buy 26% stake in 3-wheelers focused EV firm MLR Auto for Rs.19-Cr
Ampere Vehicles Pvt Ltd, a wholly owned e-mobility arm of Mumbai-based, publicly listed Greaves Cotton Ltd, is to acquire a 26% stake in Hyderabad-based MLR Auto Ltd, which designs, develops, manufactures and sells L5 electric three-wheelers, for INR 18.81 crore in cash. It also has the right to increase its shareholding by another 25% on a fully diluted basis within a year from the date of closing of the initial acquisition of 26%. MLR, established in 2009, had reported revenues of INR 14.34 crore in FY20.
From the Venture Intelligence M&A Deals Database: In Nov-19, Greaves Cotton completed its acquisition of Ampere Vehicles. It invested about $25-M across 3 tranches. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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