Escorts Limited announced that it has entered into agreement to issue 9,363,726 equity shares at an issue price of INR 2,000 per equity share for gross proceeds of INR 18,727,452,000 on November 18, 2021. The transaction will include participation from returning investor, Kubota Corporation. The investor's stake will increase from 9.09% to 16.39% stake in the company, and will hold 21,621,414 shares, post closing of the transaction. The company will issue shares though third-party preferential allotment. The preferential allotment process will be from mid- November 2021 to late February 2022. The transaction is expected to close by March 31, 2022. The closing of the transaction is subject to shareholders and necessary regulatory approval.

On the same day, the company issued 9,350,000 shares for gross proceeds of INR 18,700,000,000 in its first tranche closing.