MUMBAI: Energy transition and power-electronics company Eastman Auto and Power has filed for a Rs 1,800-2,000 crore share sale with Sebi through the confidential route.
Though the company has not disclosed the issue size, which will be a mix of primary issue along with an offer for sale, investment bankers aware of the matter said the issue will be to the tune of Rs 1,800-2,000 crore.
In a public announcement on Thursday, the company said it has filed the pre-filed draft red herring prospectus with Sebi and the stock exchanges for the proposed initial public offering.
Axis Capital, JM Financial, and Motilal Oswal are managing the issue.
Founded in 2000 as part of the JRS Eastman Group, Eastman Auto and Power has grown into a diversified energy-solutions company with operations across battery storage, power electronics and solar technologies.
The Haryana-based company’s portfolio spans three core areas: last-mile e-mobility solutions, electronics manufacturing and solar systems with integrated storage. It has a significant position in the electric 3-wheeler battery market, accounting for over half of industry volumes in FY25.
The company supplies to over 400 electric three-wheeler makers and the product range includes chargers, inverters and UPS systems.
It has eight manufacturing facilities, three of which focus on power electronics. Together, they have an annual capacity of about 2 million units and exports storage batteries to over 50 countries.
Its combined production includes 11.47 gwh of battery-storage capacity and annual output of 6 million energy-storage units across EVs, solar and home-inverter categories, and 2 million inverters and chargers.
The company had reported revenue of Rs 4,228 crore in FY25, which grew 28% annually between FY23 and FY25.