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Reading: EV Creator Greaves Electric Dynamics Get Sebi Haqkar for IPO
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PratapDarpan > Blog > Buisness > Market Insight > EV Creator Greaves Electric Dynamics Get Sebi Haqkar for IPO
Market Insight

EV Creator Greaves Electric Dynamics Get Sebi Haqkar for IPO

PratapDarpan
Last updated: 13 May 2025 21:00
PratapDarpan
3 weeks ago
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EV Creator Greaves Electric Dynamics Get Sebi Haqkar for IPO
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The EV manufacturer, known for its Empire, Eltra and Elle brands, has received Sebi’s Go-Author to float with the initial public offering run (IPO), showing an update with the Capital Markets regulator.

The proposed IPO is Rs. There is a combination of a new issue of sales of 18.9 crore shares (OFS) by 1000 crore equity shares and sales shareholders, according to the Draft Red Harring Prospectus (DRHP).

Under the OFS, shareholders selling promoters will flew 5.1 crore equity shares and Abdul Latif Jail Green Mobility Solutions DMCC, shareholder of investors selling Rs 13.8 crore shares.

The company, which filed its draft papers with Sebi in December 2024, received its inspection letter on May 8, showing update. In Sebi’s burlens, getting its observations means moving forward to start a public issue.

According to the draft prospectus, the amount of fresh issues used for various initiatives of Greens Electric Dynamics is used for production and technical development at Bengaluru Technology Center. 5 375.2 crore, in -house battery assembly for the development of capability of Rs. .9..9 crore, and for the extension of the production capacity of the physical currency owned by Wooli, Rs. 19.8 crore.

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      In addition, Rs 38.2 crore will be used to expand the production capacity of MLR Auto toe (material subsidiary); To increase the company’s stake in MLR through acquisition, Rs. 73.6 crore and Rs 27.8 crore for digitization and deployment of information technology infrastructure. Funds will also be used to support inorganic growth through acquisitions and general corporate purposes.

      Greens electric mobility offers a full suit of electric two-wheeler (E-2W) and three-wheeler (3W) segments, catering to both B2C and B2B for personal and professional purposes.

      The portfolio of its vehicle meets various customer base, which has E-2W spreading ings fails in all three segments-high-speed e-scooters, City Speed ​​E-Skooters, with models of cases of use cases, and 3 WS, with 3W Mobilities, including 3W Mobilizers. Samples for the use of cargo and passenger use of three-wheelers, interleaf combusten engineers and intercersels).

      As of September 2024, Grievs electric mobility operated three production facilities in Ranipat (Tamil Nadu), Greater Noida (Uttar Pradesh) and Toppran (Telangana).

      On the financial front, the company’s revenue was Rs 611.8 crore with the performance of the financial 2024 and Rs 302.2 crore in the six months ending September 30, 2024.

      Motilal Oswal Investment Advisors, IIFL Capital Services and JM Financial are lead managers on the issue.

      (Now you can subscribe to our Etmarkets WhatsApp channel)

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