IPO · Mobility & Logistics

Greaves Electric Mobility files for Rs 1000 crore IPO

By Startup Enthusiast · 12 September 2026

What they do

The company manufactures electric two-wheelers and three-wheelers designed for last-mile mobility and commercial transport

The IPO consists of a fresh issue of Rs 1000 crore and an offer for sale of over 189 million shares

Funds will support technology development, battery assembly, manufacturing capacity expansion, and general corporate purposes

Greaves Electric Mobility has filed for an IPO (initial public offering; the first sale of stock to the public).
The offering includes a fresh issue of equity shares worth up to Rs 1000 crore.
Existing shareholders will conduct an offer for sale of up to 189,398,200 equity shares.
Greaves Cotton Ltd will sell up to 51,000,000 shares as part of the offer.
Abdul Latif Jameel Green Mobility Solutions DMCC will sell up to 138,398,200 shares.
The company may also conduct a pre-IPO placement of up to Rs 200 crore to reduce the fresh issue size.

The company plans to use proceeds for product and technology development and battery assembly capabilities.
Capital will fund manufacturing capacity expansion for BAPL and MLR subsidiaries.
Funds are allocated for digitization, IT infrastructure, and general corporate purposes.

The company produces electric two-wheelers and three-wheelers for last-mile mobility.
Key products include the Greaves ELTRA and ELE Loader electric rickshaws.
It has served approximately 3 lakh customers since inception.
The company claims to have saved over 84 million litres of petrol.
Its vehicles have covered over 3.8 billion electric kilometres.
The firm reports a reduction of over 1.5 lakh tons in CO2 emissions.

The company plans to showcase new innovations at the Auto Expo 2025.
Upcoming models include the Ampere Xyber motorcycle and Greaves Xargo electric three-wheeler.

Greaves Cotton Ltd (seller) — A diversified engineering company founded in 1945.
Abdul Latif Jameel Green Mobility Solutions DMCC (seller) — A global family-owned investor with interests in transportation and mobility.