One of the top EV companies, Ather Energy, plans to go public with its IPO from April 28-30, aiming to raise about ₹2,626 crore through a new share issuance after filing its RHP with SEBI.
Ahead of its IPO, Ather Energy is opting for a more conservative valuation strategy. They are targeting a pre-money valuation of ₹9,900 crore-₹10,000 crore, with a post-money valuation expected to surpass ₹12,000 crore. This is in contrast to the earlier goal of ₹14,000 crore in valuation.
In the upcoming IPO, Ather Energy’s co-founders Tarun Mehta and Swapnil Jain plan to sell a portion of their stakes. Current investors like NIIF and Tiger Global may participate. Hero MotoCorp, with over 37% stake in Ather, is not taking part in this deal.
In addition to the new share issue, Ather Energy’s IPO will feature an offer for sale (OFS) component, consisting of 11,051,746 equity shares. Both the promoter group and investors are expected to participate. This move forms part of Ather Energy’s preparation for its upcoming public debut in India’s stock markets.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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