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Greaves Electric Mobility gets SEBI's nod for IPO

14 May 2025 Evaluate

Greaves Electric Mobility has received markets regulator Securities and Exchange Board of India’s (SEBI's) clearance to raise funds through initial public offering (IPO). The IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an Offer for Sale (OFS) of 18.9 crore shares by the selling shareholders. 

Proceeds from the fresh issue will be utilised for various strategic initiatives, including Rs 375.2 crore for product and technology development at the Bengaluru Technology Centre, Rs 82.9 crore for developing in-house battery assembly capabilities, and Rs 19.8 crore for expanding the manufacturing capacity of Bestway Agencies. Additionally, Rs 38.2 crore will be allocated to expand MLR Auto’s manufacturing capacity, Rs 73.6 crore to increase the company's stake in MLR through acquisitions, Rs 27.8 crore to enhance digitisation and IT infrastructure, and funds will also used to support inorganic growth through acquisitions and general corporate purposes. Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the book running lead managers to the issue. 

Greaves Electric Mobility offers a complete suite of vehicles across electric two-wheeler (E-2W) and three-wheeler (3W) segments, catering to both B2C and B2B customers for personal and commercial purposes. 


Peers
Company Name CMP
Bajaj Auto 9813.65
Hero MotoCorp 5468.45
TVS Motor 3838.65
Eicher Motors 7421.25
Ather Energy 863.45
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