Greaves Electric Mobility Ltd. IPO Details
Greaves Electric Mobility was incorporated on June 2, 2008. The company is a pioneer in India's electric vehicle (EV) market, playing a key role in driving EV adoption, (CRISIL Report). With over 16 years of experience in designing and manufacturing electric vehicles, it offers a complete range of electric two-wheelers (E-2W) and three-wheelers (3W) for both B2C and B2B customers, serving personal and commercial need
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 189.4 M | - | - | ₹10,000.0 M | DRHP DOC |
Greaves Electric Mobility issue details
Greaves Electric Mobility has 189.4 M shares on offer
Greaves Electric Mobility IPO issue size is ₹ 10,000.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
Greaves Electric Mobility IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Greaves Electric Mobility NUMBER OF SHARES ON OFFER
Greaves Electric Mobility FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | -1,061.5 | 3,022.3 | -379.5 | -387.5 | -30.3% |
| FY24 | -6,915.7 | 6,118.2 | -3,107.0 | -3,746.6 | -33.6% |
| FY23 | -199.1 | 11,215.7 | -2,644.6 | -3,159.4 | -2.1% |
| FY22 | -453.8 | 5,206.1 | -702.3 | -1,166.6 | -3.4% |
Greaves Electric Mobility INFORMATION ON IPO ISSUE
About Greaves Electric Mobility
Greaves Electric Mobility was incorporated on June 2, 2008. The company is a pioneer in India's electric vehicle (EV) market, playing a key role in driving EV adoption, (CRISIL Report). With over 16 years of experience in designing and manufacturing electric vehicles, it offers a complete range of electric two-wheelers (E-2W) and three-wheelers (3W) for both B2C and B2B customers, serving personal and commercial need
Object of the Issue
- Investment for product and technology development and enhancing capabilities at the company’s technology centre in Bengaluru, Karnataka
- Development of in-house battery assembly capabilities by the company
- Funding expansion of the manufacturing capacity of Bestway Agencies Private Limited
- Funding expansion of the manufacturing capacity of MLR Auto Limited
- Increasing the company’s stake in MLR through acquisitions
- Increase digitization and deployment of information technology infrastructure by the company
- Funding inorganic growth through unidentified acquisitions and general corporate purposes
Greaves Electric Mobility - PROMOTERS
| Name |
|---|
| Karan Thapar |
| Nagesh Basavanhalli |
| Arup Basu |
| Firdose Vandrevala |
| Sree Patel |
| Ravi M Kirpalani |
| Raja Venkataraman |
| M S Unnikrishnan |
Greaves Electric Mobility Book Running Lead Manager
Motilal Oswal Investment Advisors Limited
geml.ipo@motilaloswal.com
IIFL Capital Services Limited
geml.ipo@iiflcap.com
JM Financial Limited
greaveselectric.ipo@jmfl.com
Greaves Electric Mobility Registrar to the Offer
Link Intime India Private Limited
greaveselectric.ipo@linkintime.co.in
Greaves Electric Mobility Strengths
Robust and diverse product portfolio
According to the CRISIL Report, the company is the only one in India offering a complete range of E-2Ws and 3Ws. The E-2W portfolio includes High-Speed, City-Speed, and Low-Speed e-Scooters, while the 3W portfolio features L3 E-3Ws, L5 E-3Ws, and ICE 3Ws for passenger and cargo use
Strong development and design capabilities
The company has a strong R&D and product development team of 103 employees, with 83.49% holding engineering degrees as of September 30, 2024. The team includes engineers with expertise in electrical, electronics, automotive, mechanical engineering, and experience in vehicle product development, design, and manufacturing
Capital-efficient and flexible operations
The company follows a capital-efficient approach to product development, focusing on design and technology control while maintaining operational flexibility through a platform-based model. This strategy reduces upfront capital needs, promotes cost savings, allows adoption of new technologies, and minimizes the risk of overinvestment
Greaves Electric Mobility Risks
Competition
The company may face challenges in competing successfully and maintaining its market position in the highly competitive and rapidly evolving automotive market
Inability to adapt to market trends and technology
The company may struggle to anticipate and adapt quickly to changing technological and market trends, as well as develop new products that align with customer demands, potentially impacting its business, operations, financial condition, and future prospects
Risk of defective products & potential recalls
If any of the company's vehicles or components are found to be defective or non-compliant with government safety standards, it may lead to product recalls. The company cannot guarantee timely detection and resolution of defects, if any
IPO FAQs
The promoters of the company are Karan Thapar, Nagesh Basavanhalli, Arup Basu, Firdose Vandrevala, Sree Patel, Ravi M Kirpalani, Raja Venkataraman and M S Unnikrishnan.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.