HSA Advocates advised Greaves Cotton Ltd and Greaves Electric Mobility Pvt Ltd in acquisition of shareholding in Bestway Agencies Pvt Ltd

HSA Advocates advised and assisted Greaves Cotton Limited and Greaves Electric Mobility Private Limited (previously known as Ampere Vehicles Private Limited) (Greaves Electric Mobility) in the latter’s acquisition of 26% shareholding in Bestway Agencies Private Limited (BAPL) from its exiting shareholder.

Greaves Cotton Limited is a leading and publicly traded mechanical and engineering company, while Greaves Electric Mobility is its e-mobiliity arm and one of the leading players in the electric vehicles segment in India. BAPL sells e-rickshaws under the popular brand ELE.

With the conclusion of this acquisition, Greaves Electric Mobility has acquired 100% stake in BAPL strengthening Greaves Electric Mobility’s position as one of the largest end-to-end players in the last mile mobility segment catering to 85% of the consumer demand.

HSA assisted in advising on the transaction, along with drafting of the definitive agreements.

The HSA team was led by Saurya Bhattacharya (Partner – Mumbai & Head – Kolkata) with assistance from Sarjana Pandey, Associate.

The Greaves legal team comprised of Atindra Basu (General Counsel and Company Secretary) along with Kanika Shukla, (AGM Legal), Kamlesh Kulkarni (Deputy Company Secretary) and Divya Shetty (Executive Legal and Company Secretary).