Greaves Electric Mobility files DRHP

Greaves Electric Mobility Limited has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for an initial public offering (IPO). The IPO comprises a fresh issue of Rs 10 billion and an offer for sale of 189 million shares. The company is also planning for a pre-IPO placement of Rs 2 billion. The proceeds of the funds raised are planned to be utilised for enhancing technology capabilities, manufacturing capacity, in-house battery building capacity, and enabling inorganic growth through acquisitions and general corporate purposes.