Eastman Auto and Power has secured Securities and Exchange Board of India’s (SEBI's) approval to raise funds through initial public offering (IPO).
The proposed IPO will be a combination of fresh issuance and an offer for sale (OFS) component. To manage the offering, the company has roped in Axis Capital, JM Financial, and Motilal Oswal.
Eastman Auto and Power (EAPL) has grown into a diversified energy-solutions company with operations across battery storage, power electronics and solar technologies.