SEBI approves pre-filing of Eastman Auto

SEBI approves pre-filing of Eastman Auto

Eastman Auto and Power Ltd (EAPL) has submitted a draft red herring prospectus for its proposed initial public offering (IPO) to the Securities and Exchange Board of India (SEBI) and stock exchanges, marking the pre-filing stage for a main-board listing. The company confirmed the submission in a public announcement, with the IPO estimated to raise ₹1,800–2,000 crore through a combination of a fresh issue of shares and an Offer for Sale (OFS). Axis Capital, JM Financial, and Motilal Oswal have been appointed as lead book-running managers for the offering.

EAPL, established in 2000 as part of the JRS Eastman Group, operates across three core segments: last-mile e-mobility solutions, power-electronics manufacturing, and solar systems with integrated energy storage. The company holds over 50% market share in Electric 3-Wheeler (E3W) batteries in FY25, supplying components to 400 OEMs and leveraging a network of 2,500 service partners and 1,200 distributors nationwide. Its manufacturing footprint includes eight facilities, three dedicated to power electronics, with an annual production capacity of approximately two million units.

Recent expansions include an 800 MW solar-panel plant in Sonipat and lithium-based energy-storage systems for residential and grid-scale markets. EAPL exports storage batteries to over 50 countries, with total production capacity spanning 11.47 GWh of battery storage, six million energy-storage units, and two million inverters and E3W chargers annually.

The IPO process remains subject to SEBI's regulatory review and market conditions. Investors are advised to conduct independent due diligence, as the offering does not constitute investment recommendations.