Greaves Cotton shares drop 2% after approving OFS component for Greaves Electric Mobility IPO
The Offer for Sale (OFS) component of the Initial Public Offer (IPO) for Greaves Electric Mobility (GEML), the company’s electric vehicle division, was approved by the board of directors on Wednesday, December 11, causing Greaves Cotton shares to drop 2.2% to their day’s low of Rs 248.20 on the BSE. Although the OFS approval has…