Eastman Auto and Power, a leading player in energy transition and power electronics, has filed confidential IPO documents with SEBI to raise fresh capital. People familiar with the development estimate the issue size to be in the range of ₹1,800–2,000 crore.
Fresh Issue + OFS Structure
The proposed IPO will comprise a fresh issuance of shares along with an Offer for Sale (OFS) component, allowing existing shareholders to partially exit or dilute their holdings.
Pre-Filed DRHP Submitted
In a public announcement on Thursday, Eastman Auto and Power confirmed that it has submitted a pre-filed Draft Red Herring Prospectus (DRHP) with SEBI and the stock exchanges for the company’s upcoming mainboard listing.
Lead Managers Appointed
To handle the IPO process, the company has appointed Axis Capital, JM Financial, and Motilal Oswal as the book-running lead managers, according to people aware of the matter.
The filing marks a significant move for Eastman Auto and Power as it looks to strengthen its financial position and accelerate growth in the fast-evolving energy-transition space.
