Shares jumped 19% intraday on Dec 27, hitting a 52-week high of Rs280.80, driven by heavy buying.
Greaves Cotton shares rose 85% in a year; and doubled in 6 months; current market cap at Rs6,400 crore.
Promoters held 55.88% in Greaves Cotton as of September 2024, showcasing strong backing.
Greaves Electric Mobility Limited (GEML), a subsidiary, plans IPO with Rs1,000 crore fresh issue.
On Dec 23, GEML filed DRHP with SEBI for IPO including fresh issue and offer for sale (OFS).
OFS includes 5.10 crore shares from Greaves Cotton & 13.84 crore shares from Abdul Latif Jameel DMCC.
Stock opened at Rs236.20 on Dec 27, surged to Rs280.80, marking a new 52-week high.
IPO and strong performance signal growth potential for Greaves Cotton and its subsidiaries.