Archive · 11 Nov 2025
Minerva Ventures Fund Acquires ₹11 Crore Stake in A-1 Limited Amid EV Expansion
A company called Minerva Ventures Fund, which invests money from other countries, bought about 11 crore rupees worth of shares in an Indian company called A-1 Limited.
A-1 Limited used to focus on chemicals but is now planning to make electric vehicles (EVs) and other clean transportation.
They are also investing more in a company they own a part of that makes electric scooters called Hurry-E.
This is because India's market for electric scooters is growing very fast.
A-1 Limited wants to become a company that focuses on green energy by the year 2028.
Their board will also discuss giving out bonus shares, splitting their stock, and paying dividends.
The Hurry-E scooters are designed to be affordable and have been approved by a government agency.
Minerva Ventures Fund, a Mauritius-based FPI, acquired ₹11 crore worth of shares in A-1 Limited.
A-1 Limited is diversifying from chemical trading and logistics into the electric vehicle (EV) and clean mobility sector.
The company increased its shareholding in subsidiary A-1 Sureja Industries (maker of Hurry-E electric scooters) from 45% to 51%.
A-1 Limited aims to become a multi-vertical green enterprise by 2028.
The board will meet on November 14 to consider bonus shares, stock splits, and dividends alongside EV expansion plans.
- Who
- Minerva Ventures Fund (a Mauritius-based Foreign Portfolio Investor)
- What
- Acquired 66,500 equity shares of A-1 Ltd, totaling ₹11 crore, and A-1 Limited is expanding into the EV and clean mobility sector.
- When
- Bulk deal on November 7, 2025; Board meeting on November 14, 2025.
- Where
- Ahmedabad, India
- Why
- To increase foreign investor participation and support A-1 Limited's strategic diversification into the electric vehicle and clean mobility sector.
Company Strategy
Market Conditions
Diversification into EV Sector
Company Strategy
A-1 Limited is proactively diversifying into the EV and clean mobility sector, increasing its stake in A-1 Sureja Industries, a manufacturer of electric two-wheelers under the brand Hurry-E, with an aim to become a multi-vertical green enterprise by 2028.
Market Conditions
The company's expansion into the EV sector is driven by the rapid growth of India's electric two-wheeler market, which has grown at a 35% CAGR (FY'25) and is projected to exceed 5 million units by FY'28, indicating strong market potential.
- Investor
- Minerva Ventures Fund (Mauritius-based FPI)
- Acquired Company
- A-1 Limited
- Transaction Value
- ₹11 crore
- Shares Acquired
- 66,500 equity shares
- Price per Share
- ₹1,655
- A-1 Limited Business
- Chemical trading and logistics, expanding into EV and clean mobility
- Subsidiary Investment
- Increased shareholding in A-1 Sureja Industries from 45% to 51% at an enterprise value of ₹100 crore.
- Target EV Brand
- Hurry-E
