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Greaves Electric Mobility (GEML), a subsidiary of Greaves Cotton, has submitted a Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO) to the Securities and Exchange Board of India, BSE, and NSE. The IPO includes a fresh issue of equity shares worth up to Rs 10,000 million and an offer for sale of 51 million shares by the company and 138.4 million shares by Abdul Latif Jameel Green Mobility Solutions DMCC.
Kedia Securities acquired a 0.52% stake in Greaves Cotton, while Creative Graphics Solutions India saw CAPRI Global Holdings purchase 4 lakh shares (1.65%) at Rs 199.91 each. Concurrently, ACINTYO Investment Fund PCC - Cell 1 sold 1.25 lakh shares (0.52%) at Rs 194.32, with the stock closing 14% higher at Rs 206.50.
Greaves Cotton shares rose 3% to Rs 192.5 following the announcement of an IPO for its electric vehicle unit, Greaves Electric Mobility Limited, which includes a fresh issue of equity and an offer for sale by existing shareholders. The stock's trading volume surged to 74 lakh shares by noon, significantly above recent averages, reflecting strong investor interest in the electric mobility sector. With a market capitalization of approximately Rs 4,500 crore, Greaves Cotton has seen a robust 38% increase in stock value over the past year, outperforming benchmark indices.
Maruti Suzuki, Hyundai Motor, Escorts, Cipla, Home First Finance, Aster DM, DLF, and Greaves Cotton are set to be in focus on Monday. Investors are encouraged to opt for push notifications to receive relevant updates on their transactions.
Greaves Cotton is set to launch an initial public offering (IPO) for its subsidiary, Greaves Electric Mobility (GEML), following board approval on December 1. The IPO will include a fresh issue of equity shares and an offer-for-sale by existing shareholders, pending shareholder approval and regulatory clearances.
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