December 2, 2024
New Delhi, India
Greaves Electric Mobility Moves Towards Public Listing
Greaves Cotton Ltd has revealed significant corporate development with its subsidiary, Greaves Electric Mobility (GEML), considering an initial public offering (IPO). The company’s board approved the IPO proposal on December 1, 2024, marking a potential milestone for the electric mobility segment.
IPO Structure and Approvals
The proposed IPO will comprise:
- A fresh issue of equity shares
- An offer-for-sale (OFS) component involving existing and eligible shareholders
Key considerations for the IPO include:
- Subject to GEML shareholders’ approval
- Dependent on market conditions
- Pending regulatory clearances and necessary approvals
Also Read: Rajesh Power Makes a Blockbuster Market Debut with 90% Premium Listing
Next Steps
The company has not yet finalized critical IPO details, including:
- Total IPO size
- Pricing
- Specific offer components
These specifics will be communicated later after consultation with book-running lead managers.
Background
Greaves Cotton Ltd is a diversified engineering company with interests in electric mobility, showcasing the growing momentum in India’s electric vehicle ecosystem.
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