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Electric two-wheeler manufacturer Ather Energy has announced its much-anticipated initial public offering with a price band of Rs 304-321 per share. Subscriptions will open on April 28, marking India's first IPO in nearly after 2 months. IPO opening date on April 28, and the closing date on April 30, the basis of allotment finalise on May 2, refunds and equity credit processing by May 5, and the listing date of ather energy IPO is May 6. Ather Energy is one of the popular EV scooter manufacturers and offers a combination of fresh issues worth Rs 2,626 crore and an offer for sale of up to 1.1 crore shares. The total issue size has been revised downward to around Rs 2,980.76 crore from an initially planned Rs 4,000 crore, indicating a post-issue valuation of approximately Rs 11,956 crore.
Ather Energy Limited was founded in 2013, engaged in the business of manufacturing Electric scooters, Smart Helmets, many more. Ather Energy is recognized for its high-quality electric scooters and a robust charging infrastructure across key cities. Ather Energy ‘s commitment to sustainability and innovation has positioned it as a leader in the Indian electric two-wheeler market. Ather holds a 12% market share in the two wheeler industry.
2013
Tarun Sanjay Mehta
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Ather Energy IPO's objective is to establish an electric two-wheeler factory in Maharashtra. Also, the funds will be used for investment in research and development. The remaining funds will be used for marketing initiatives, repayment of loans and fulfilling general corporate purposes.
Tarun Sanjay Mehta
Swapnil Babanlal Jain
HMCL
| Investor Category | Subscription (times) |
|---|---|
| Qualified Institutions | 0 |
| Non-Institutional Buyers | 0 |
| bNII (bids above ₹10L) | 0 |
| sNII (bids below ₹10L) | 0 |
| Retail Investors | 0 |
| Employees | 0 |
| Others | 0 |
| Total | 0 |
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