Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
SEBI has approved the Initial Public Offer (IPO) of Greaves Electric Mobility Ltd. on May 8, 2025. The company will proceed with next steps to launch the Initial Public Offer (IPO) subject to market conditions and other approvals. The SEBI approval is valid for 12 months.
Greaves Electric Mobility Ltd. IPO is a Book Build Issue consisting of fresh issue of ₹1,000.00 crores and an offer for sale (OFS) of upto 18.94 crore equity shares.
The equity shares are proposed to be listed on NSE and BSE. Motilal Oswal Investment Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Greaves Electric Mobility IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Fresh Issue | [.] shares (agg. up to ₹1,000 Cr) |
| Offer for Sale | 18,93,98,200 shares of ₹1 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 96,18,43,550 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Thu, Dec 26, 2024 |
| SEBI/Exchange approval received | Thu, May 8, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII Shares Offered | Not Less than 15% of the Net Offer |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Yes |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
Incorporated in 2008, Greaves Electric Mobility Limited is engaged in the business of Electrical Vehicles (EV).
The company offers a full range of electric two-wheelers (E-2W) and three-wheelers (3W) for B2C and B2B customers. With over 16 years of experience, they have a strong presence in the E-2W industry.
The company offers a diverse range of electric two-wheelers (E-2W) and three-wheelers (3W), including high-speed, city-speed, and low-speed e-scooters, as well as electric and ICE three-wheelers for both cargo and passenger use.
The company holds over 5% market share in states like Tamil Nadu and Bihar. As of September 30, 2024, they have 309 E-2W dealers and 188 3W dealers, with a geographically distributed network across India.
The company focuses on in-house R&D, technology, and manufacturing to drive innovation and cost efficiency. By Fiscal 2027, they plan to establish an in-house battery pack assembly for improved quality and supply chain reliability.
As of September 30, 2024, the company had 411 permanent employees.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 758.86 | 718.27 | 1,370.24 | 396.39 |
| Total Income | 312.75 | 641.31 | 1,156.45 | 521.37 |
| Profit After Tax | -106.15 | -691.57 | -19.91 | -45.38 |
| NET Worth | 386.79 | 412.07 | 1,084.81 | -43.01 |
| Reserves and Surplus | 363.22 | 392.54 | 1,065.45 | 55.51 |
| Total Borrowing | 47.60 | 46.76 | 3.39 | 232.56 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment for (a) product and technology development; and (b) enhancing capabilities at the Company’s Technology Centre in Bengaluru, Karnataka | 375.27 |
| 2 | Development of the Company’s in-house battery assembly capabilities | 82.90 |
| 3 | Funding expansion of the manufacturing capacity of BAPL | 19.89 |
| 4 | Funding expansion of the manufacturing capacity of MLR | 38.26 |
| 5 | Increasing the Company’s stake in our Material Subsidiary, MLR, through acquisitions | 73.67 |
| 6 | Increase digitization and deployment of information technology infrastructure by the Company | 27.80 |
| 7 | Funding inorganic growth through unidentified acquisitions and general corporate purposes |
| KPI | Mar 31, 2024 |
|---|---|
| RoNW | -165.16% |
| PAT Margin | 107.84% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 62.48% |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | |
| 2 | Selling commission/processing fee for SCSBs, Sponsor Banks and fee payable to the Sponsor Banks for Bids made by RIBs, Eligible Employees and Eligible Shareholders | |
| 3 | Brokerage and selling commission and bidding/uploading charges for members of the Syndicate (including their sub-Syndicate Members), Registered Brokers, RTAs and CDPs | |
| 4 | Fees payable to the Registrar to the Offer | |
| 5 | Others | |
| 6 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | |
| 7 | Printing and stationery expenses | |
| 8 | Advertising and marketing expenses | |
| 9 | Fees payable to legal counsel | |
| 10 | Fees payable to auditors, chartered accountants and company secretaries | |
| 11 | Fees payable to industry report provider | |
| 12 | Fees payable to cost assessment report provider | |
| 13 | Miscellaneous |
Greaves Electric Mobility IPO is a main-board IPO of 0 equity shares of the face value of ₹1 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Greaves Electric Mobility IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Greaves Electric Mobility IPO using UPI as a payment gateway. Zerodha customers can apply in Greaves Electric Mobility IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Greaves Electric Mobility IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Greaves Electric Mobility IPO dates are not announced. Please check back again after some time.
Greaves Electric Mobility IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Greaves Electric Mobility IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Greaves Electric Mobility IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Greaves Electric Mobility IPO allotment status.
The Greaves Electric Mobility IPO listing date is not yet announced. The tentative date of listing is .
