GEML, a subsidiary of Greaves Cotton, has submitted a Draft Red Herring Prospectus (DRHP) for its upcoming IPO. The filing outlines plans for a fresh issue of equity shares and an offer for sale of equity shares by the company. Abdul Latif Jameel Green Mobility Solutions DMCC is also set to offer equity shares as part of the IPO.
This move is aimed at enhancing GEML's capital base and expanding its operations in the electric mobility sector.