Greaves Cotton’s stock rose 10.62 per cent following its subsidiary, Greaves Electric Mobility Limited (GEML), filing a Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO). The DRHP was submitted to regulatory bodies, including the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange (BSE), and the National Stock Exchange of India (NSE).
Greaves Cotton, a leading engineering company, specializes in fuel-agnostic powertrain solutions, e-mobility, and aftermarket services. Despite its growth initiatives, the company reported a consolidated net loss of US $ 1.68 million in Q2 FY ’25, a significant improvement compared to the US $ 44.56 million loss in Q2 FY ’24. However, operational income dropped 3 per cent year-on-year to US $ 82.75 million during the quarter.
The IPO filing marks a strategic step for Greaves Electric Mobility as it seeks to capitalise on the expanding e-mobility sector, potentially boosting Greaves Cotton’s market position.
