India's Greaves Cotton gains on regulatory nod for unit's IPO

Greaves Cotton

14/05/2025 06:49

** Shares of engineering company Greaves Cotton GRVL.NS rise 2.4% to 207.55 rupees

** Co's unit Greaves Electric Mobility gets Indian markets regulator's nod for IPO

** EV maker Greaves Electric had filed draft papers in December 2024, seeking to raise up to 10 billion rupees through a fresh issue

** The IPO will also include an offer for sale of up to 189 million shares

** Greaves Electric plans to use 3.75 billion rupees from the IPO proceeds to invest in product and technology development

** Greaves Cotton has dropped 27% in 2025 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))