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economictimes.indiatimes.com / 1 year ago
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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Hero MotoCorp to invest up to Rs 525 crore in Euler Motors for 32.5% stake
Hero MotoCorp has announced a strategic investment of up to Rs 525 crore in three-wheeled electric commercial vehicle maker Euler Motors.
The investment, to be made in one or more tranches, will give Hero MotoCorp a 32.5% stake in Euler Motors on a fully diluted basis, according to a stock exchange filing on Thursday.
“Our strategic investment in Euler is a bold step towards realising our vision to «Be the Future of Mobility.» This investment reinforces our commitment to accelerated growth through both organic and inorganic expansion while highlighting the power of collaboration and adaptability in an ever-evolving market," said Pawan Munjal, executive chairman, Hero MotoCorp.
Founded in 2018 by Saurav Kumar, Euler Motors focuses on designing, manufacturing, selling, and servicing electric three-wheelers. The company operates in 30 cities across India and recently launched its first electric commercial four-wheeler.
In January 2024, Euler Motors raised $20 million in debt from responsAbility Investments AG to scale up production, expand its distribution network, and strengthen research and development (R&D).
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For the fiscal year ending March 2024, the company's turnover stood at Rs 172 crore, a significant jump from Rs 49 crore in the previous fiscal.
Hero MotoCorp said the investment would provide it with a strong foothold in the fast-growing electric three-wheeler market, where EVs are expected to account for 35% of total sales soon.
This investment comes at a time when funding in India’s EV
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How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
21.05 / 10:17
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Even at $5 trillion, Nvidia is underappreciated
Subscribe to enjoy similar stories.Nvidia is no longer the only AI chip game in town. But it is the largest by far, and the likelihood that it will be that way for the foreseeable future should count for something.It hasn’t counted for much lately.
21.05 / 10:17
markets
Digital
CEO
War
Omnicom
RK Swamy bets on integrated advertising model as global agency giants split media and creative
Subscribe to enjoy similar stories.Homegrown advertising group RK Swamy Ltd is betting on its integrated marketing model to drive growth over the next few years, combining media, creative and other advertising services even as the ‘Big Four’ agency networks increasingly separate those businesses.“We never did disaggregated media and creative [although] that was an option 20 years ago,” Shekhar Swamy, MD and group CEO of RK Swamy Ltd told Mint in an interview.“How can you disaggregate the two? The media function holds a lot of data, and then when media and creative walk separately, it creates a lot of tension. This is not a sensible model for a client.”RK Swamy’s clients include Magicbricks, Polycab, and several government institutions and PSUs such as LIC.The company reported a 15% jump in annual revenue for FY26 to ₹351.73 crore, while profit before tax and exceptional items rose 30% year-on-year to ₹32.2 crore.
21.05 / 09:47
markets
IPO
Racing
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21.05 / 09:47
markets
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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PI Industries’ weak core business keeps investors on edge
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‘Should I Marry a Murderer?’ has left audiences stunned but what they saw wasn’t all that bizarre
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Secured credit cards: Unlocking credit and building a credit score for millions
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Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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