Eastman Auto and Power, an energy transition and power electronics company, has filed its confidential draft red-herring prospectus (DRHP) with the stock market regulator Sebi for an initial public offering (IPO).
According to a PTI report, the company is looking to raise ₹1,800-2,000 crore via the maiden share sale, which will be a combination of fresh issue and offer for sale (OFS).
To manage the offering, the company has roped in Axis Capital, JM Financial, and Motilal Oswal, the PTI report added.
Lately, more companies are opting for Sebi's confidential filing route for their IPOs, which allows them to withhold public disclosure of IPO details under the DRHP. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans.
About Eastman Auto and Power
Eastman Auto and Power, part of the JRS Eastman Group, was founded in 2000 and boasts strong capabilities across battery storage, power electronics, and solar technologies.
Its portfolio spans three core areas: last-mile e-mobility solutions, electronics manufacturing and solar systems with integrated storage.
It is a market leader in Electric 3-Wheeler (E3W) batteries, holding over 50% volume share in FY2025. The company serves more than 400 E3W OEMs across India, supported by a robust service network of over 2,500+ partners and 1,200+ distributors.
It manufactures a wide range of products such as E3W chargers, solar inverters (off-grid, grid-tie, and hybrid), online UPS systems, and home inverters through its eight manufacturing facilities across India, including three dedicated power-electronics plants, with a combined production capacity of two million units annually.
Eastman Auto and Power also has a robust R&D ecosystem comprising over 200 professionals and international experts, supported by five patents and 47 design registrations.
It recently commissioned an 800 MW solar-panel plant in Sonipat, adding to its plans to build a more integrated solar-solutions presence. It also manufactures lithium-based energy-storage systems, solar batteries and inverters, catering to both rising solar adoption and the broader need for reliable storage in the grid and home-energy markets.
The company exports to over 50 countries worldwide, and has a strong revenue profile. As per the release shared by the company, it reported revenue of ₹4,228 crore in FY25, delivering a strong CAGR of 28% between FY23 and FY25.
The company’s extensive manufacturing capacity includes 11.47 GWh of battery storage and an annual output of six million energy-storage units across categories such as E3W batteries, solar batteries & home inverter batteries and 2 million Solar Inverters, Home Inverters & E3W Chargers.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
