By on 15 Nov 2021
HSA Advocates advised Greaves Cotton Ltd and Greaves Electric Mobility Pvt Ltd in the strategic investment in MLR Auto Limited
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 strategic investment in MLR Auto Limited. Greaves Cotton Limited is a leading and publicly traded mechanical and engineering company, while Greaves Electric Mobility is its e-mobility arm and one of the leading players in the electric vehicles segment in India.
The transaction involved acquisition of 26% stake in electric-3 wheeler manufacturer, MLR Auto Limited by Greaves Electric Mobility. With the conclusion of this acquisition, Greaves Electric Mobility strengthens its 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 structuring the transaction, legal due diligence, as well as negotiation and documentation. It also provided execution and completion related support.
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 & Company Secretary).