Eastman Auto & Power’s ₹2,000-Crore IPO: Guide for Investors

Eastman Auto & Power (EAPL), a major player in battery storage, power electronics and solar solutions, has filed confidential IPO papers with SEBI. The IPO size is expected to be ₹1,800–2,000 crore, including both fresh issue and Offer for Sale (OFS). What the Company Does • Big name in E3W (Electric 3-Wheeler) batteries, owning 50%+ market share in FY25. • Supplies to 400+ OEMs with a service network of 2,500+ partners. • Active in solar panels, inverters, lithium storage systems, and exports to 50+ countries. • Operates 8 manufacturing plants with strong production capacity. • FY25 Revenue: ₹4,228 crore, growing at 28% CAGR. Why Some Investors May Like This IPO • Strong leadership in fast-growing E3W battery segment. • Diversified energy business (solar, power electronics, storage). • Global presence with exports to 50+ countries. • High growth rate and expanding manufacturing capacity. • Benefits from India’s EV & solar transition. Risks to Keep in Mind • Heavy dependence on EV and solar sector demand. • High competition in batteries & solar products. • Margins may be affected by raw material price volatility. • OFS portion means some promoters are selling shares. • Execution risk as the company expands aggressively. Note: This IPO belongs to the EV + Solar + Storage theme — fast growing but competitive. Good story, but investors should wait for final financials in the DRHP before deciding.