Ather Energy has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares worth Rs 3,100 crore and an Offer For Sale (OFS) of 2.2 crore equity shares by promoters and investors shareholders.
Proceeds from the fresh issue will be used for capital expenditure to establish an electric two-wheeler factory in Maharashtra, investment in research and development, marketing initiatives, repayment of loan and for general corporate purposes. Axis Capital, HSBC Securities and Capital Markets (India), JM Financial, and Nomura Financial Advisory Securities (India) are the book-running lead managers to the issue.
Ather Energy is a pure-play EV company that designs all its products ground up in India. Since its inception in 2013, the company has focused on product and technology development in India in order to build an E2W ecosystem.
| Company Name | CMP |
|---|---|
| Bajaj Auto | 10710.85 |
| Hero MotoCorp | 5321.50 |
| TVS Motor | 3692.45 |
| Eicher Motors | 7300.10 |
| Ather Energy | 915.00 |
| View more.. | |
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