Greaves Cotton (GCL) has acquired a majority stake in Coimbatore based electric vehicle company Ampere Vehicles Pvt Ltd. GCL is acquiring a 67% stake in the first phase, to be completed by December 31, 2018, at | 77 crore. Out of this, | 25 crore will be equity infusion while | 52 crore is towards acquiring a non-promoter stake and preference shares in the first phase. Subsequently, it has the option to acquire another 13% over three years for | 75.5 crore linked to revenue and operating performance in future. The acquisitions come at about 1.6x EV to sales on FY19E sales....