Latest news with #GreavesElectricMobility
Time of India
5 days ago
- Automotive
- Time of India
Greaves Electric Mobility appoints Vikas Singh as managing director
Greaves Electric Mobility Limited (GEML), the e-mobility division of diversified engineering company Greaves Cotton , has appointed Vikas Singh its new managing director, effective June 2, 2025, the company said in a statement on Tuesday. He will lead the company's next phase of growth, with the current management team reporting to him. Singh, an alumnus of FMS, University of Delhi , has held leadership positions in various Indian and multinational organisations including Bharti Airtel, Kimberly-Clark and Pearson. Prior to joining Greaves Electric Mobility, he was the MD & CEO at gold and silver refinery and fabricator MMTC-PAMP India . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo This appointment reinforces GEML's commitment to its core purpose of democratising smart and sustainable mobility solutions for every Indian and marks a pivotal step as it strengthens its position in India's growing EV landscape, the company said. The appointment is in line with the company's long-term strategic vision and continued focus on strengthening leadership for future growth, Greaves Electric Mobility said. Live Events
NDTV
14-05-2025
- Automotive
- NDTV
Greaves Electric Gets SEBI Greenlight To Float IPO
Greaves Electric Mobility (GEML) has received the green signal from the Securities and Exchange Board of India (SEBI) to issue an IPO. Greaves will become the third EV-only manufacturer to issue an IPO after Ola Electric and Ather Energy. Simple Energy too plans to roll out an IPO in 2027. The company submitted its draft Red Herring Prospectus (DHRP) in December 2024 and SEBI issued the observation letter on May 8, 2025. The company plans to raise Rs. 1,000 crore through fresh issue of shares. Its promoters (Greaves Cotton) and current investors Abdul Lateef Jameel Green Mobility Solutions DMCC look to sell up to 18.94 crore shares through offer for sale (OFS). At present, Greaves Cotton holds 62.5 per cent stake in Greaves Electric and the rest is held by Abdul Lateef Jameel Green Mobility Solutions. Greaves Electric is a subsidiary of Greaves Cotton and it has three fully electric brands on sale in India - Ampere for two-wheelers, Ele for e-rickshaws and Greaves 3W for three-wheelers. Post IPO, Greaves Electric plans to use the amount for various purposes. The company will allocate Rs. 375.27 crore for R&D at its Bengaluru tech centre. Another Rs. 82.9 crore will be used to strengthen in-house battery assembly. GEML will also allocate Rs. 58.15 crore towards increasing manufacturing capacity at its plants in Ranipet, Greater Noida and Toopran. The company plans to acquire MLR Auto fully and plans to invest Rs. 73.67 crore towards the same. In FY2024, Greaves Electric Mobility experienced a substantial decline in its revenue from operations, which fell to Rs. 611.8 crore-a 45.5 per cent drop compared to the previous year. This downturn was largely driven by a sharp reduction in electric two-wheeler sales volume. Electric two-wheelers, which previously made up about 67 per cent of the company's total revenue, saw their sales plummet to 47,820 units, less than half of the 109,000 units sold in FY23. Conversely, the company witnessed growth in its electric three-wheeler segment, with volumes increasing to 13,470 units from 6,870 units the prior year.
Time of India
14-05-2025
- Automotive
- Time of India
EV maker Greaves Electric Mobility gets Sebi nod for IPO
Greaves Electric Mobility, an EV manufacturer known for its Ampere, Eltra and Ele brands, has received Sebi's go-ahead to float an initial public offering (IPO), an update with the capital markets regulator showed. The proposed IPO is a combination of a fresh issue of equity shares worth ₹1,000 crore and an Offer for Sale (OFS) of 18.9 crore shares by the selling shareholders, according to the draft red herring prospectus (DRHP). Under the OFS, the promoter selling shareholder will divest 5.1 crore equity shares and Abdul Latif Jameel Green Mobility Solutions DMCC, the investor selling shareholder will offload 13.8 crore shares. The company, which filed its draft papers with Sebi in December 2024, obtained its observations letter on May 8, the update showed. In Sebi's parlance, obtaining its observations means its go-ahead to launch the public issue. As per the draft prospectus, Greaves Electric Mobility intends to use the proceeds from the fresh issue for various initiatives, including ₹375.2 crore for product and technology development at the Bengaluru Technology Centre, ₹82.9 crore for developing in-house battery assembly capabilities, and ₹19.8 crore for expanding the manufacturing capacity of wholly owned Material Subsidiary - Bestway Agencies. Additionally, ₹38.2 crore will be used for expansion of the manufacturing capacity of MLR Auto (a material subsidiary); ₹73.6 crore to increase the company's stake in MLR through acquisitions and ₹27.8 crore for increasing digitization and deployment of information technology infrastructure. Funds will also be used to support inorganic growth through acquisitions and general corporate purposes. Greaves Electric Mobility offers a complete suite of vehicles across electric two-wheeler (E-2W) and three-wheeler (3W) segments, catering to both B2C and B2B customers for personal and commercial purposes. Its vehicle portfolio caters to a diverse customer base, with offerings spanning E-2W across all three segments - High Speed e-Scooters, City Speed e-Scooters and Low Speed e-Scooters, with models for B2C and B2B use cases, and 3Ws which includes products across the entire spectrum of 3W mobility, which includes electric three-wheelers, internal combustion engine three-wheelers (diesel or CNG) and e-rickshaws, with models for cargo and passenger use cases. As of September 2024, Greaves Electric Mobility operated three manufacturing facilities in strategic locations in Ranipet (Tamil Nadu), Greater Noida (Uttar Pradesh) and Toopran (Telangana). On the financial front, the company's revenue from operations for fiscal 2024 was ₹611.8 crore and ₹302.2 crore for the six months ended September 30, 2024. Motilal Oswal Investment Advisors, IIFL Capital Services , and JM Financial are the book running lead managers to the issue.
Economic Times
13-05-2025
- Automotive
- Economic Times
EV maker Greaves Electric Mobility gets Sebi nod for IPO
Greaves Electric Mobility, an EV manufacturer known for its Ampere, Eltra and Ele brands, has received Sebi's go-ahead to float an initial public offering (IPO), an update with the capital markets regulator showed. ADVERTISEMENT The proposed IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an Offer for Sale (OFS) of 18.9 crore shares by the selling shareholders, according to the draft red herring prospectus (DRHP). Under the OFS, the promoter selling shareholder will divest 5.1 crore equity shares and Abdul Latif Jameel Green Mobility Solutions DMCC, the investor selling shareholder will offload 13.8 crore shares. The company, which filed its draft papers with Sebi in December 2024, obtained its observations letter on May 8, the update showed. In Sebi's parlance, obtaining its observations means its go-ahead to launch the public per the draft prospectus, Greaves Electric Mobility intends to use the proceeds from the fresh issue for various initiatives, including Rs 375.2 crore for product and technology development at the Bengaluru Technology Centre, Rs 82.9 crore for developing in-house battery assembly capabilities, and Rs 19.8 crore for expanding the manufacturing capacity of wholly owned Material Subsidiary - Bestway Rs 38.2 crore will be used for expansion of the manufacturing capacity of MLR Auto (a material subsidiary); Rs 73.6 crore to increase the company's stake in MLR through acquisitions and Rs 27.8 crore for increasing digitization and deployment of information technology infrastructure. Funds will also be used to support inorganic growth through acquisitions and general corporate purposes. ADVERTISEMENT Greaves Electric Mobility offers a complete suite of vehicles across electric two-wheeler (E-2W) and three-wheeler (3W) segments, catering to both B2C and B2B customers for personal and commercial vehicle portfolio caters to a diverse customer base, with offerings spanning E-2W across all three segments - High Speed e-Scooters, City Speed e-Scooters and Low Speed e-Scooters, with models for B2C and B2B use cases, and 3Ws which includes products across the entire spectrum of 3W mobility, which includes electric three-wheelers, internal combustion engine three-wheelers (diesel or CNG) and e-rickshaws, with models for cargo and passenger use cases. ADVERTISEMENT As of September 2024, Greaves Electric Mobility operated three manufacturing facilities in strategic locations in Ranipet (Tamil Nadu), Greater Noida (Uttar Pradesh) and Toopran (Telangana).On the financial front, the company's revenue from operations for fiscal 2024 was Rs 611.8 crore and Rs 302.2 crore for the six months ended September 30, 2024. ADVERTISEMENT Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the book running lead managers to the issue. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
13-05-2025
- Automotive
- Time of India
EV maker Greaves Electric Mobility gets Sebi nod for IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Greaves Electric Mobility, an EV manufacturer known for its Ampere, Eltra and Ele brands, has received Sebi's go-ahead to float an initial public offering (IPO), an update with the capital markets regulator proposed IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an Offer for Sale (OFS) of 18.9 crore shares by the selling shareholders, according to the draft red herring prospectus (DRHP).Under the OFS, the promoter selling shareholder will divest 5.1 crore equity shares and Abdul Latif Jameel Green Mobility Solutions DMCC, the investor selling shareholder will offload 13.8 crore company, which filed its draft papers with Sebi in December 2024, obtained its observations letter on May 8, the update showed. In Sebi's parlance, obtaining its observations means its go-ahead to launch the public per the draft prospectus, Greaves Electric Mobility intends to use the proceeds from the fresh issue for various initiatives, including Rs 375.2 crore for product and technology development at the Bengaluru Technology Centre, Rs 82.9 crore for developing in-house battery assembly capabilities, and Rs 19.8 crore for expanding the manufacturing capacity of wholly owned Material Subsidiary - Bestway Rs 38.2 crore will be used for expansion of the manufacturing capacity of MLR Auto (a material subsidiary); Rs 73.6 crore to increase the company's stake in MLR through acquisitions and Rs 27.8 crore for increasing digitization and deployment of information technology infrastructure. Funds will also be used to support inorganic growth through acquisitions and general corporate Electric Mobility offers a complete suite of vehicles across electric two-wheeler (E-2W) and three-wheeler (3W) segments, catering to both B2C and B2B customers for personal and commercial vehicle portfolio caters to a diverse customer base, with offerings spanning E-2W across all three segments - High Speed e-Scooters, City Speed e-Scooters and Low Speed e-Scooters, with models for B2C and B2B use cases, and 3Ws which includes products across the entire spectrum of 3W mobility, which includes electric three-wheelers, internal combustion engine three-wheelers (diesel or CNG) and e-rickshaws, with models for cargo and passenger use of September 2024, Greaves Electric Mobility operated three manufacturing facilities in strategic locations in Ranipet (Tamil Nadu), Greater Noida (Uttar Pradesh) and Toopran (Telangana).On the financial front, the company's revenue from operations for fiscal 2024 was Rs 611.8 crore and Rs 302.2 crore for the six months ended September 30, Oswal Investment Advisors, IIFL Capital Services , and JM Financial are the book running lead managers to the issue.
