Introduction:
Leading electric mobility company has announced plans for an Initial Public Offering (IPO) of its equity shares. The decision follows board approval, subject to shareholder consent, and will include both a fresh issue of shares and an offer for sale by existing shareholders.
Share price movement of Greaves Cotton:
On December 2, 2024, Greaves Cotton Limited opened at ₹193.00, up 3.30% from ₹186.85. The stock reached a high of ₹196.75 (5.31%) and a low of ₹188.35. The stock closed at ₹189.25, a 1.28% increase, with a market cap of ₹4,399.71 crore.
GEML announces IPO approval:
Greaves Cotton Limited announced that its material subsidiary, Greaves Electric Mobility Limited (GEML), has approved an Initial Public Offering (IPO) of its equity shares. The approval came during a board meeting held on December 1, 2024, subject to shareholder consent.
The IPO will involve a fresh issue of equity shares and an OFS by existing eligible shareholders. GEML has stated that the details, including IPO size, price, and participants, will be disclosed after consultations with appointed lead managers and finalised market conditions.
GEML’s IPO is subject to regulatory approvals, market conditions, and other considerations. The company plans to inform the public about further developments, ensuring transparency as it moves forward with the IPO process.
Recent news on Greaves Cotton:
As of 14 Nov 2024, Greaves Cotton reported a profit of ₹3.22 crore for Q2, despite a 2.94% YoY revenue decline. While revenue grew 10.26% QoQ, rising expenses and volatile operating income raised concerns about financial sustainability.
Stock performance of Greaves Cotton for Period of 1 week, 6 months and 1 year:
Greaves Cotton has demonstrated strong performance with a 7.95% return over the past week, 52.8% over six months, and 41.6% over the last year, reflecting consistent growth and positive market sentiment despite recent challenges.
Shareholding pattern of Greaves Cotton:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 55.90% | 55.90% | 56% |
| FII | 1.00% | 1.20% | 2.80% |
| DII | 3.80% | 3.80% | 3.80% |
| Public | 39.20% | 39.20% | 37.40% |
About Greaves Cotton:
Greaves Cotton Limited (NSE: GREAVESCOT) manufactures engines, power gensets, and trades power tillers, electric vehicles, and related spares. It operates in various non-auto engine applications, contributing 61% of FY24 revenue, down from 64% in FY22.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
