Upcoming IPO: Eastman Auto and Power Files Confidential IPO Papers with SEBI

Eastman Auto and Power Ltd (EAPL), a key player in India’s energy-transition and power-electronics space, has confidentially filed draft IPO documents with markets regulator SEBI to float an initial public offering (IPO) of ₹1,800–2,000 crore.

Eastman Auto and Power IPO Structure

EAPL IPO is expected to comprise a fresh issue of shares along with an Offer for Sale (OFS) as per news reports. In a public announcement on Thursday, the company confirmed it has submitted the pre-filed draft red herring prospectus to SEBI and the stock exchanges for a main-board listing. Axis Capital, JM Financial, and Motilal Oswal have been appointed as lead bankers to manage the offering.

About Eastman Auto and Power Limited

Founded in 2000 as part of the JRS Eastman Group, EAPL has expanded into a diversified clean-energy and power-electronics company operating across battery storage, solar technologies, and electronics manufacturing.

Its portfolio now spans three core business segments:

• Last-mile e-mobility solutions
• Power and electronics manufacturing
• Solar systems with integrated energy storage

EAPL commands a dominant share of over 50% of the Electric 3-Wheeler (E3W) battery market in FY25. The company supplies batteries and components to over 400 E3W OEMs across India. This network is supported by 2,500 service partners and 1,200 distributors nationwide.

Its product range includes E3W chargers, inverters, and UPS systems, which are increasingly critical as India accelerates the adoption of electric mobility. EAPL operates eight manufacturing facilities across India, including three dedicated to power electronics. Together, these units have a combined capacity of around two million units annually.

The company recently commissioned an 800 MW solar-panel manufacturing plant in Sonipat, strengthening its position in integrated solar solutions. It also produces lithium-based energy-storage systems, solar batteries, and inverters for residential and grid-scale storage markets.

Global Reach and Large-Scale Output

EAPL exports storage batteries to more than 50 countries. Its total production capacity includes:

• 11.47 GWh of battery-storage capacity
• Six million annual energy-storage units across E3W, solar, and home-inverter categories
• Two million inverters and E3W chargers

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