Greaves Cotton said the proposed OFS would be subject to any revisions to such quantum as may be permissible under applicable law and subject to market conditions. 
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Greaves Cotton said the proposed OFS would be subject to any revisions to such quantum as may be permissible under applicable law and subject to market conditions. Greaves Cotton Ltd, whose shares are up 30 per cent in the past one week, are in focus today for three different reasons. First, stock investors would react to the approval by the board of directors of Greaves Cotton to the proposed offer for sale (OFS) of certain equity shares of GEML held by the company in the upcoming initial public offer (IPO).
The stock is also in focus today after Greaves Retail, a division of Greaves Cotton, announced the launch of its new range of high-performance electrified light construction equipment. The division offers clean mobility and energy solutions in the e2W, ICE 2W, e3W, ICE 3W, and SCV segments.
Lastly, stock exchanges BSE and NSE have sought clarification from Greaves Cotton with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded.
Greaves Cotton said the proposed OFS would be subject to any revisions to such quantum as may be permissible under applicable law and subject to market conditions. Post the proposed IPO, while the company would continue to be a significant shareholder of GEML, whether GEML would continue to be a subsidiary of the company would be contingent on the final quantum of the OFS and the size of the IPO.
Greaves Cotton said the price and other details of the proposed IPO will be determined in due course by the competent body based on provisions of applicable law, market conditions and other considerations, including GEML valuations.
In the case of new product launches, Greaves Cotton said the entry into the construction sector is a key part of Greaves Cotton’s diversification strategy to build a holistic ecosystem within auto and non-auto segments.
"From a single fuel, single product company, Greaves has diversified into a multi fuel, multi product company with multiple revenue streams. Greaves' participation in bauma CONEXPO India 2024 reflects its strategic vision to diversify and strengthen its product offerings, reinforcing its position as a key player in the mobility and construction equipment sector," it said.
Meanwhile, the company is yet to respond on stock exchanges' query regarding the stock price movement.
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