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Greaves Cotton, a diversified engineering company, is acquiring a majority stake in Coimbatore-based electric vehicle company Ampere Vehicles for Rs. 155 crore
The first round of investment involves secondary purchase from the current investors and primary infusion valued at 77 crores, which would result in Greaves Cotton about 67% in Ampere Vehicles.
Greaves Cotton in the second phase has the option to acquire an additional 13% stake through secondary purchase from the promoters and/or further rounds of primary infusion.
DMD Advocates advised Greaves Cotton and the team was led by Senior Partner and Head of Corporate Practice Rashi Dhir along with Partner Sumit Sinha, Principal Associate Raja Kishore, Senior Associate Ashima Dewan and Associate Kaushal Prabhat.
Atindra Basu, Head – Legal, Internal Audit & Company Secretary and Manish Parekh, Deputy Company Secretary, were responsible for supervising and overseeing the deal for Greaves Cotton.
Wallcliffs – a Coimbatore based law firm acted for Ampere Vehicles. The team was led by Partner Maheshkumar Palani.