8 months ago
Eastman Auto Files IPO Papers Amid EV Battery Boom
Eastman Auto and Power Ltd, a company that makes batteries, solar panels, and other energy products, has taken a big step.
They have filed some important papers with a government group called Sebi to start selling shares of their company to the public.
This is called an IPO.
The company, which was started in 2000, makes a lot of different energy products like batteries for electric three-wheelers, solar inverters, and home inverters.
They have many factories and a big team of scientists and engineers who help them make new products.
The company is doing well and makes a lot of money.
They also sell their products to many other countries.
This is important because India is trying to use more clean energy, and Eastman Auto is helping with that.
Meanwhile, a report by Customised Energy Solutions (CES) says that the demand for electric vehicle batteries in India is going to grow very fast.
By 2032, the demand will be 14 times more than it is now.
This growth is because more people are interested in electric vehicles, and new technologies are making batteries better and cheaper.
The report also talks about new types of batteries that can make electric vehicles go farther and be safer.
However, there are some challenges, like getting the materials needed for these batteries and making sure India can make enough of them.
Eastman Auto and Power Ltd (EAPL) has filed a confidential Draft Red Herring Prospectus (DRHP) with Sebi for an IPO.
EAPL specializes in battery storage, power electronics, and solar technologies, with a 50% market share in electric three-wheeler (E3W) batteries as of FY 2025.
India's demand for electric-vehicle batteries is projected to soar from 17.7 GWh in 2025 to 256.3 GWh by 2032, a 14-fold jump, according to a report by Customised Energy Solutions (CES).
The growth in EV battery demand is attributed to rising fuel prices, surging consumer interest, aggressive model rollouts, and sustained policy support.
Advancements in battery chemistry, such as LFP Gen 4, sodium-ion, and solid-state batteries, are making electric vehicles more affordable, safer, and able to go farther on a single charge.
- Who
- Eastman Auto and Power Ltd (EAPL) and Customised Energy Solutions (CES)
- What
- EAPL filed a confidential Draft Red Herring Prospectus (DRHP) with Sebi for an IPO, while CES released a report on India's EV battery demand growth
- Where
- India
- When
- Recent (specific dates not mentioned)
- Why
- EAPL aims to initiate its initial public offering (IPO), and CES highlights the rapid growth and technological advancements in India's EV battery market
Key facts
- Company
- Eastman Auto and Power Ltd (EAPL)
- Founded
- 2000
- Market Share
- 50% in electric three-wheeler (E3W) batteries (FY 2025)
- Service Network
- Over 2,500 partners and 1,200 distributors
- Manufacturing Plants
- Eight plants nationwide, with three dedicated to power electronics
- R&D Team
- Over 200 professionals and international experts
- Patents and Designs
- Five patents and 47 design registrations
- Solar Panel Facility
- 800 MW manufacturing facility in Sonipat
- Revenue (FY 2025)
- Rs 4,228 crore
- CAGR (FY 2023-FY 2025)
- 28%
- Production Capacity
- 11.47 GWh of battery storage, six million energy-storage units, and two million units of solar inverters, home inverters, and E3W chargers
- Export Reach
- More than 50 countries
- EV Battery Demand (2025)
- 17.7 GWh
- Projected EV Battery Demand (2032)
- 256.3 GWh
- CAGR (2025-2032)
- 35%
- Battery Chemistry Innovations
- LFP Gen 4, sodium-ion, solid-state batteries
Quotes
Eastman Auto and Power (EAPL)
A power-electronics company planning its primary market debut.
“the pre-filed draft red herring prospectus with SEBI and the stock exchanges in relation to the proposed initial public offering (IPO) of its equity shares on the main board.”
financialexpress.com
Sources
Eastman Auto files confidential draft IPO papers with Sebi
India’s EV battery demand to jump 14-fold by 2032; next-generation battery systems to reshape market
India’s EV battery demand to rise multi-fold to 256.3 GWh by 2032: Report


