Greaves Cotton shares electrified the market on Tuesday, jumping nearly 10% after its subsidiary, Greaves Electric Mobility Limited, revealed plans for a ₹1,000 crore IPO. The company filed a Draft Red Herring Prospectus (DRHP) with SEBI, BSE, and NSE on December 23, 2024, marking a significant step toward strengthening its foothold in the electric mobility space. The IPO will include a fresh issue of equity shares and an offer for sale by major stakeholders, including Abdul Latif Jameel Green Mobility Solutions DMCC and Greaves Cotton itself. On the BSE, Greaves Cotton shares opened at ₹236.80, shot up to ₹256.30 intraday, and touched a low of ₹229.70. The stock has been on a robust upward trajectory, surging from ₹160 to ₹260 in November alone. Greaves Cotton’s bold strategy highlights its commitment to innovation and scaling up in the electric vehicle sector, a market with immense potential. This IPO not only promises to solidify its market position but also serves as a rallying point for investors eager to ride the EV wave.