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After Ola Electric, Ather Energy plans to go public; firm files draft IPO papers, including ₹3,100 crore fresh issue

Upstox
By Upstox News Desk

2 min read | Updated on September 09, 2024, 14:47 IST

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SUMMARY

Ather Energy filed IPO papers with SEBI a month after its rival Ola Electric Mobility shares made their debut on the bourses. It is backed by two-wheeler major Hero MotoCorp. Investors and some top shareholders will sell up to 2.2 crore shares in the share sale, as per reports.

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Ather Energy has filed for an IPO consisting of a fresh issue of shares worth ₹3,100 crore ($369.4 million), it said in a draft filing on Monday.

Ather Energy has filed for an IPO consisting of a fresh issue of shares worth ₹3,100 crore ($369.4 million), it said in a draft filing on Monday.

Amid the ongoing deluge of initial public offers (IPOs) in India, the latest company to join the bandwagon is electric two-wheeler maker Ather Energy. The company filed IPO papers with SEBI a month after its rival Ola Electric Mobility shares made their debut on the bourses.

Ather Energy has filed for an IPO consisting of a fresh issue of shares worth ₹3,100 crore ($369.4 million), it said in a draft filing on Monday.

Ather is backed by two-wheeler major Hero MotoCorp.

Investors and some top shareholders will sell up to 2.2 crore shares in the share sale, as per reports.

The IPO frenzy on Dalal Street doesn't look to fade anytime soon. Data shows in the week starting Monday, September 9, as many as 14 IPOs (both SME and mainboard) are scheduled to open for subscription, and the shares of nine companies are likely to be listed on their respective exchanges.

ALSO READ | Ola Electric shares slide more than 5% as one-month lock-in period ends

On Monday, the much-awaited Bajaj Housing Finance IPO opened for subscription.

The company aims to raise ₹6,560 crore through its IPO. The book-built issue is a combination of a fresh issuance of 50.86 crore shares aimed at raising ₹3,560 crore along with an OFS portion of 42.86 crore shares, aggregating to ₹3,000 crore.

ALSO READ | Deep Industries shares rally 18%; here is why

The price band for the Bajaj Housing Finance IPO has been fixed at ₹66 to ₹70 per share. Retail investors interested in applying for the IPO can bid for a minimum lot size of 214 shares, which aggregates to an investment of ₹14,980.

About Ather Energy

Ather Energy is one of the leading electric two-wheeler manufacturers in India. It is headquartered in Bengaluru. It was founded by Tarun Mehta and Swapnil Jain in 2013. It currently manufactures electric scooters known as the Ather 450 Apex, Ather 450S, Ather 450X, Ather 450X Pro, and Ather Rizta.

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About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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