Muthoot Capital shares rose as much as 6% on partnering with Greaves Finance for providing electric two-wheeler financing solutions in India.

According to Muthoot Capital’s regulatory filing, Muthoot Capital Services Limited (MCSL), which’s a publicly traded entity of the Muthoot Pappachan Group and Greaves Finance Limited, a non-banking financial company (NBFC), a wholly owned subsidiary of Greaves Cotton Ltd., through its 100% ev-focused lending platform evfin, have partnered to increase the availability of electric two-wheeler financing solutions across India.

Muthoot Capital is one of the fast-growing NBFC and evfin in India’s only EV-focused lending platform via Greaves Finance ltd.

The collaboration involves a total deal size of up to Rs 150 crore (USD 18 million) and aims to drive the adoption of sustainable transportation alternatives.

The partnership will provide affordable, customised, and convenient financing options for customers looking to purchase electric two-wheelers.

Both companies are committed to supporting a diverse range of renowned electric two-wheeler manufacturers, including OLA Electric, Ather Energy, Ampere, Hero MotoCorp and TVS Motor.

By collaborating with leading original equipment manufacturers (OEMs), the initiative aims to provide customers with a wide array of options while fostering innovation in the electric vehicle sector.

By providing comprehensive financing solutions for electric two-wheelers, the two companies are poised to play a pivotal role in shaping the future of mobility in India.

At 11:41 pm, the shares of Muthoot Capital were trading 0.33% higher at Rs 291.05 on NSE.