Greaves Cotton Limited has successfully acquired the remaining 20% stake in its subsidiary, Excel Controlinkage Private Limited, achieving full 100% ownership effective August 13, 2026. Key Highlights: Transaction Details: Executed via a secondary route, this completes the definitive agreement signed in April 2023. The transaction was structured at an enterprise value not exceeding ₹385 crore (₹3,850 million), plus applicable premiums and fees. Target Profile: Excel Controlinkage is a leading manufacturer of mechanical and electronic motion control systems—including heavy-duty push-pull cables and throttle levers—serving the commercial vehicle, construction, agriculture, and material handling sectors. Strategic Rationale: Full consolidation seamlessly integrates Excel’s operations into Greaves Cotton’s portfolio. It diversifies the company's product categories, deepens its footprint in the commercial vehicle sector, and accelerates its vision of building a comprehensive, non-automotive mobility ecosystem. Outlook: By securing complete control over a highly specialized motion-control manufacturer, Greaves Cotton strengthens its B2B engineering capabilities and positions itself for enhanced margin accretion and cross-selling opportunities within its broader mobility portfolio. $GREAVESCOT

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