crossorigin="anonymous"> Graves Electric Mobility IPO: EV maker files papers with Sebi, aims to raise Rs 1,000 crore – News18 – Subrang Safar: Your Journey Through Colors, Fashion, and Lifestyle

Graves Electric Mobility IPO: EV maker files papers with Sebi, aims to raise Rs 1,000 crore – News18


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Greaves Electric Mobility IPO: Company may raise Rs 200 crore through pre-IPO placement.

Greaves Electric Mobility IPO: Motilal Oswal Investment Advisors, IIFL Capital Services and JM Financial are book running lead managers for the IPO.

Greaves Electric Mobility IPO: The electric vehicle maker has submitted draft documents to capital markets regulator Sebi to raise funds through an initial public offering.

Graves Electric Mobility IPO DRHP SEBI

Graves Electric Mobility Ltd’s (GEML) upcoming IPO includes a fresh issue of Rs 1,000 crore equity shares and an offer for sale (OFS) of 18.9 crore shares by selling shareholders, according to draft papers filed on Monday. According to

OFS breakdown

As part of the OFS, promoter Greaves Cotton will allot 5.1 crore equity shares, while investor Abdul Latif Jameel Green Mobility Solutions DMCC will offload 13.8 crore shares.

Pre-IPO Placement Option

The company can raise Rs 200 crore through pre-IPO placement. If this placement occurs, the size of the fresh issue will be reduced accordingly.

Use of IPO proceeds

Proceeds from the fresh issue will be earmarked for various strategic initiatives:

  • 375.2 crore for product and technology development at Bengaluru Technology Centre
  • 82.9 crore for developing in-house battery assembly capabilities
  • 19.8 crores to increase the productivity of Bestway Agencies Pvt
  • 38.2 crores to increase the production capacity of MLR Auto Ltd
  • 73.6 crore for increasing the company’s stake in MLR through acquisition
  • 27.8 crore for digitization and enhancement of IT infrastructure
  • Funds for inorganic growth through acquisitions and general corporate purposes

Manufacturing Footprint

As of September 30, 2024, GEML operates three manufacturing facilities at strategic locations: Ranipet (Tamil Nadu), Greater Noida (Uttar Pradesh), and Topran (Telangana).

About Graves Electric Mobility

Greaves Electric Mobility is known for its ‘Ampere’ brand of electric scooters and also manufactures three-wheelers under a separate brand. The company offers a range of electric vehicles in the two-wheeler (E-2W) and three-wheeler (3W) segments, catering to both B2C and B2B customers for personal and commercial use.

Financial performance

For FY2024, the company reported revenue from operations of Rs 611.8 crore. Revenue for the six months ended September 30, 2024 stood at Rs 302.2 crore.

IPO Book Running Lead Managers

Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are Book Running Lead Managers for the IPO.

News business » IPO Graves Electric Mobility IPO: EV maker files papers with Sebi, aims to raise Rs 1,000 crore



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