Exciting News: Greaves Electric Mobility Limited Files for IPO!
Greaves Electric Mobility IPO – Hey everyone! Big news in the electric vehicle world – Greaves Electric Mobility Limited has filed for an initial public offering (IPO) with the Securities and Exchange Board of India (SEBI)!
Greaves Electric Mobility is a major player in India’s electric vehicle market. They make all kinds of electric two-wheelers and three-wheelers for both regular people and businesses. They’ve been making electric vehicles for over 16 years and have a strong presence in the two-wheeler sector.
They have three manufacturing plants in important places like Tamil Nadu, Uttar Pradesh, and Telangana. In 2024, they made Rs. 611.8 crores in revenue, and in the first six months of 2024, they made Rs. 302.2 crores.
Greaves Electric Mobility is a big part of Greaves Cotton Ltd.
What’s in the IPO?
The IPO includes new shares worth up to Rs. 1,000 crores and existing shares being sold by current shareholders. Greaves Cotton will sell 5.1 crore shares, and Abdul Latif Jameel Green Mobility Solutions DMCC will sell 13.8 crore shares.
Before the IPO, they might also sell shares worth up to Rs. 200 crores to certain investors.
The money raised from the new shares will go towards making better products, improving technology at their center in Bengaluru, building battery assembly capabilities, expanding manufacturing capacity, and more.
Shareholder Category
A new shareholder category has been introduced for this IPO. Shareholders who own at least 1 share of the parent company, Greaves Cotton Ltd, will be eligible for this category. It is important to note that this eligibility is only valid one day before the company files its RHP. Therefore, in order to qualify for the shareholder category, individuals must have Greaves Cotton Ltd shares in their Demat account on the day the RHP is filed.
Some big companies like Motilal Oswal Investment Advisors Ltd, IIFL Capital Services Ltd, and JM Financial Ltd are helping with the IPO.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.