Greaves Electric Mobility Files for IPO
POWER & RENEWABLE ENERGY

Greaves Electric Mobility Files for IPO

Electric-vehicle manufacturer Greaves Electric Mobility has announced plans to raise Rs 10 billion through an initial public offering (IPO), as stated in its draft papers filed.

The company, recognised for its 'Ampere' brand of electric scooters, also produces three-wheelers under a separate brand. Greaves Electric’s major shareholders, Greaves Cotton—a publicly listed entity—and investment firm Abdul Latif Jameel Green Mobility Solutions, will collectively sell approximately 189.4 million shares through the IPO.

This move positions Greaves Electric alongside larger competitor Ather Energy in capitalising on India's primary market, which has seen proceeds more than double to $17.5 billion year-on-year by mid-December, according to data from LSEG.

Ola Electric Mobility's IPO, marking the first by an exclusive Indian EV maker, garnered strong investor interest, with bids for 4.3 times the shares available. Following this trend, Greaves Electric intends to utilise the IPO proceeds to advance product research and development, establish battery assembly facilities, and enhance manufacturing capacity on a smaller scale.

Before the IPO, Greaves Cotton held a 62.5% stake in Greaves Electric, while Abdul Latif Jameel Green Mobility Solutions owned the remaining shares.

Electric-vehicle manufacturer Greaves Electric Mobility has announced plans to raise Rs 10 billion through an initial public offering (IPO), as stated in its draft papers filed. The company, recognised for its 'Ampere' brand of electric scooters, also produces three-wheelers under a separate brand. Greaves Electric’s major shareholders, Greaves Cotton—a publicly listed entity—and investment firm Abdul Latif Jameel Green Mobility Solutions, will collectively sell approximately 189.4 million shares through the IPO. This move positions Greaves Electric alongside larger competitor Ather Energy in capitalising on India's primary market, which has seen proceeds more than double to $17.5 billion year-on-year by mid-December, according to data from LSEG. Ola Electric Mobility's IPO, marking the first by an exclusive Indian EV maker, garnered strong investor interest, with bids for 4.3 times the shares available. Following this trend, Greaves Electric intends to utilise the IPO proceeds to advance product research and development, establish battery assembly facilities, and enhance manufacturing capacity on a smaller scale. Before the IPO, Greaves Cotton held a 62.5% stake in Greaves Electric, while Abdul Latif Jameel Green Mobility Solutions owned the remaining shares.

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?