Greaves Electric Mobility, an electric vehicle subsidiary of Greaves Cotton based in Maharashtra, India, has received regulatory approval from SEBI on May 13, 2025, for its upcoming IPO. The company plans to raise over ₹1,000 crore through a combination of fresh issue and Offer for Sale (OFS), aiming to strengthen its market position in the EV sector and support business expansion.
Greaves Electric Mobility, a leading electric vehicle (EV) manufacturer in India and a wholly-owned subsidiary of Greaves Cotton Limited, has received the go-ahead from the Securities and Exchange Board of India (SEBI) to launch its Initial Public Offering (IPO). Headquartered in Maharashtra, the company focuses on developing and selling electric two- and three-wheelers under the brand “Ampere,” playing a significant role in India’s transition to clean mobility.
The IPO, which aims to raise over ₹1,000 crore, will be structured as a combination of a fresh issue of equity shares and an Offer for Sale (OFS) by existing shareholders. The proceeds from the fresh issue are expected to be used for business expansion, product development, and strengthening the EV infrastructure footprint across India.
SEBI’s approval, granted on May 13, 2025, is a key milestone for Greaves Electric Mobility as it positions itself to scale up operations and meet rising demand in the fast-growing electric vehicle sector. The IPO is also likely to provide an exit opportunity to some early investors and unlock value for Greaves Cotton, the parent company.
Greaves Electric Mobility has seen consistent growth in the EV segment, backed by the Indian government’s focus on sustainable transportation. The company’s Ampere brand has become one of the most recognized names in the low-speed and mid-speed electric scooter markets in India.
With rising fuel costs, increasing environmental awareness, and a push for localized manufacturing, the upcoming IPO is expected to draw significant interest from institutional and retail investors alike.
Further details about the issue size, pricing, and timeline will be disclosed in the company’s Draft Red Herring Prospectus (DRHP) and subsequent regulatory filings.
