Greaves Cotton rises on board approval of subsidiary's IPO

Greaves Cotton

02/12/2024 06:46

** Shares of energy solutions provider Greaves Cotton
 GRVL.NS  rise 3.01% to 192.60 rupees
    ** GRVL says board of e-scooter manufacturing subsidiary
Greaves Electric Mobility (GEML) approves its IPO 
    ** GEML's IPO will involve fresh issue of equity shares and
sale of shares by some existing shareholders
    ** IPO subject to approval by GEML's shareholders
    ** Size of IPO, pricing and participant list to be disclosed
soon, co says
    ** More than 7.1 mln shares traded, compared to 30-day avg
of 2.49 mln
    ** GRVL stock has risen 26.8% YTD
    

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))