Introduction:
Subsidiary of an EV company has filed a Draft Red Herring Prospectus for its initial public offering (IPO), comprising a fresh issue of shares worth up to ₹10,000 million and an offer for sale by major stakeholders, subject to approvals.
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Share price movement of Greaves Cotton:
On December 24, 2024, Greaves Cotton Ltd opened at ₹236.80, up 3.31% from its previous close of ₹229.20. The stock reached a high of ₹246.50 (7.22%) and a low of ₹229.70. By 10:18 AM, it traded at ₹245.75, a 7.22% increase, with a market cap of ₹5,709.75 crore.
Greaves Electric Mobility Files DRHP for IPO:
Greaves Electric Mobility Limited (GEML), a material subsidiary of Greaves Cotton Ltd, has filed a Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO). The filing, made on December 23, 2024, includes equity shares valued at ₹1 each.
The IPO consists of a fresh issue of equity shares worth up to ₹10,000 million, alongside an offer for sale of 51 million shares by Greaves Cotton and approximately 138.4 million shares by Abdul Latif Jameel Green Mobility Solutions DMCC.
The offering is subject to regulatory approvals, market conditions, and other factors. Greaves Cotton Ltd informed the stakeholders of this development as part of its ongoing strategic growth initiatives through GEML’s public listing.
Recent news on Greaves Cotton:
As of November 13, 2024, Greaves Cotton Ltd. reported a strong Q2 FY25 performance with consolidated revenue of ₹705 crore. Standalone revenue grew 2% to ₹468 crore, while EBITDA reached ₹109 crore for H1 FY25, reflecting steady growth.
Stock performance of Greaves Cotton for Period of 1 week, 6 months and 1 year:
Greaves Cotton Ltd. has experienced a 4.23% decline over the past week. However, the company shows impressive growth with a 74.1% return over the last 6 months and a 69.7% return over the past year, reflecting strong long-term performance.
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Shareholding pattern of Greaves Cotton:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 55.90% | 55.90% | 56.00% |
| 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 (NSE: GREAVESCOT) is a diversified engineering conglomerate, providing fuel-agnostic powertrain solutions, e-mobility, and aftermarket services. With manufacturing facilities in Maharashtra and Tamil Nadu, it operates across automotive, electric mobility, and other sectors.
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.
