Ather Energy is gearing up to file for an IPO worth ₹4,000 crore. The company is aiming for a valuation of $2 billion-2.25 billion (around ₹16,800 crore – ₹19,000 crore).
What Happened: Economic Times reported that the Hero Motocorp-backed company is going to file a draft prospectus in the next week for an IPO. The IPO will have a fresh issue and offer for sale and the company intends to use the funds raised for capacity expansion.
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Ather has asked investment banks HSBC, JPMorgan, Axis Capital, JM Financial and Nomura to manage the IPO, the report added.
Ather is the fourth largest electric two-wheeler maker by volume behind Ola Electric, TVS Motor and Bajaj Auto. The company sold 10,830 e-scooters in August, increasing by 51% from the previous year with a market share of 12.2% according to Vahan data.
Ather’s total market share in first 5 months of FY25 to 9% and a total sales of 37,508 units.
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