Greaves Electric Mobility Limited

Greaves Electric Mobility Limited received SEBI approval to launch its ₹1,000 crore Initial Public Offering (IPO). The exact opening and closing subscription dates, price band, and lot size have not yet been officially announced. [1]
IPO Structure
The IPO is a book-built issue and will consist of: [1]
  • Fresh Issue: Equity shares worth up to ₹1,000 crore.
  • Offer for Sale (OFS): Divestment of up to 18.94 crore equity shares by the promoter and existing investors (including Abdul Latif Jameel Green Mobility Solutions).
  • Listing: The shares will be listed on both the BSE and the NSE. [1, 2]

Investor Quota
  • Qualified Institutional Buyers (QIB): Not less than 75% of the net offer.
  • Non-Institutional Investors (NII): Not less than 15% of the net offer.
  • Retail Investors: Not more than 10% of the net offer. [1]

Utilization of Proceeds
Greaves Electric Mobility intends to use the capital to fuel its market presence, with allocated funds directed toward: [1, 2, 3]
  • Product & Technology: ₹375.2 crore for development at the Bengaluru Technology Centre.
  • Battery Capabilities: ₹82.9 crore dedicated to in-house battery assembly development.
  • Expansion: Manufacturing capacity increases across subsidiaries (Bestway Agencies and MLR Auto).
  • Infrastructure: Investments in IT, digitization, and corporate purposes.
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