Greaves Cotton rises as its arm partners with River Mobility to offer financing solutions through evfin

Greaves Cotton is currently trading at Rs. 169.50, up by 1.55 points or 0.92% from its previous closing of Rs. 167.95 on the BSE.

The scrip opened at Rs. 169.55 and has touched a high and low of Rs. 170.95 and Rs. 167.10 respectively. So far 118292 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 181.25 on 31-Jul-2024 and a 52 week low of Rs. 112.50 on 04-Jun-2024.

Last one week high and low of the scrip stood at Rs. 170.95 and Rs. 161.40 respectively. The current market cap of the company is Rs. 3908.02 crore.

The promoters holding in the company stood at 55.88%, while Institutions and Non-Institutions held 4.92% and 39.19% respectively.

Greaves Cotton’s wholly owned subsidiary -- Greaves Finance, under its 100% ev-focused lending platform evfin, has entered into partnership with River Mobility, a Bengaluru-based startup building stylish, multi-utility electric scooters. This collaboration aims at providing River customers across the nation with access to evfin's competitive financing options, including low-interest loans and leases, making River vehicle ownership more accessible than ever before.

With a commitment to revolutionise the electric vehicle ownership experience, evfin will offer River customers a loan starting at a competitive interest rate of just 5.99%. This collaboration ensures that River products become more accessible, catering to a broader audience of potential EV owners.

Additionally, evfin's state-of-the-art digital platform ensures a swift and hassle-free application process, with loan approvals secured in under 5 minutes. This fast approval process is designed to provide a seamless customer experience, eliminating any barriers that may hinder the purchase of the electric vehicle.

Recognising the dynamic nature of the electric vehicle market, evfin goes beyond financing with innovative upgrade and buyback programs. These programs will enable River customers to embrace the future with confidence. Customers can seamlessly transition to the latest River models through effortless upgrade options, or leverage attractive buyback opportunities, ensuring maximum value for their investment.

Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day.