Greaves Electric Mobility IPO: Greaves Cotton plans public offer of Ampere e-scooter maker; key details

2 min read | Updated on December 02, 2024, 09:17 IST

SUMMARY

Greaves Electric Mobility IPO will be a fresh issue of equity shares as well as an offer-for-sale (OFS) component by certain existing and eligible shareholders, subject to market conditions, receipt of regulatory clearances and applicable approvals.

Greaves Electric Mobility, the electric mobility business of Greaves Cotton, is a key player in the electric vehicle (EV) technology industry in India.

Greaves Cotton Ltd, a diversified engineering company, announced that its subsidiary Greaves Electric Mobility (GEML) is considering an initial public offering (IPO).

In an exchange filing, Greaves Cotton announced that GEML's board approved the IPO proposal on December 1. The decision will be subject to the approval of GEML shareholders.

"This is to inform you that we have received an intimation from GEML that the board of directors of GEML, a material subsidiary company of Greaves Cotton Limited, at its meeting held today i.e., December 1 2024 has, subject to approval of the shareholders of GEML, approved an initial public offering ("IPO") of the equity shares of GEML." the company said in a regulatory filing.

The IPO will be a fresh issue of equity shares as well as an offer-for-sale (OFS) component by certain existing and eligible shareholders, subject to market conditions, receipt of regulatory clearances and applicable approvals.

The IPO size, including OFS participants, price, and other details of Greaves Electric Mobility IPO, will be informed in due course following GEML's finalisation of such information in consultation with the book-running lead managers.

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About Greaves Electric Mobility

Greaves Electric Mobility, the electric mobility business of Greaves Cotton, is a key player in the electric vehicle (EV) technology industry in India. The company has a presence in the two-wheeler and three-wheeler segments.

In the electric 2-wheeler segment, the company has 'Ampere' e-scooter brand.

Upcoming IPOs

This week, one mainboard IPO and two in the SME segment will launch. Eight listings, including Suraksha Diagnostics and Rajesh Power Services, are also scheduled.

Property Share Investment Trust REIT IPO is open for public subscription from December 2 to December 4. It is India's first registered Small and Medium Real Estate Investment Trust (SM REIT). The ₹352.91 crore initial share sale is entirely a fresh issue of equity shares. The price band has been set at ₹10 lakh to ₹10.5 lakh per unit.

The Nisus Finance Services IPO will open on December 4. The company seeks to raise ₹114.24 crore by issuing new equity shares and an OFS component.

The ₹49.26 Emerald Tyre Manufacturers IPO, open from December 5 to December 9, has set a price band of ₹90-₹95 per share.

To learn more about IPO listings, schedules, and upcoming IPOs, visit our page.

About The Author

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Greaves Electric Mobility IPO: Greaves Cotton plans public offer of Ampere e-scooter maker; key details

About Greaves Electric Mobility

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