• Source:JND
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Ather Energy IPO Price: Electric two-wheeler maker Ather Energy Ltd on Wednesday said that it has fixed the price band at Rs 304 to Rs 321 for its Rs 2,981-crore initial public offering (IPO). The IPO, which is set to be the first mainboard public offering of the current financial year, will remain open for public subscription from April 28 to April 30. The company said bidding for anchor investors will open a day later, on April 25. 

The IPO will be a combination of a fresh issue of equity shares worth Rs 2,626 crore by promoters and other shareholders and an offer for sale (OFS) of 1.1 crore equity shares.

Ather intends to set up an electric two-wheeler factory in Maharashtra and raise funds for debt reduction. At the upper end of the price band, the IPO size has been pegged at Rs 2,981 crore, taking the total valuation of the company to Rs 11,956 crore. 

Ather to become the second-listed EV two-wheeler manufacturer

It is the second electric two-wheeler company to go public after Ola Electric Mobility launched a Rs 6,145-crore IPO in August last year. Ola Electric's IPO comprises a fresh issue of up to Rs 5,500 crore and an OFS of up to 8.5 crore equity shares.

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Apart from the IPO plans, Ather Energy is also expanding its research and development capabilities. Recently, the company announced the expansion of its research and development and testing capabilities at its product testing and validation centre.

The electric two-wheeler company has allotted 75 per cent of the issue to qualified institutional buyers, 15 per cent to non-institutional investors, and the remaining 10 per cent to retail investors.

Ather Energy IPO Listing Date

Axis Capital,  Nomura Financial Advisory & Securities (India), JM Financial, and HSBC Securities & Capital Markets are the book-running lead managers to the IPO. The equity shares of Ather are expected to be listed on the stock exchanges on May 6.

Ather Energy IPO Details

Ather Energy IPO Subscription Dates - April 28 to April 30

Ather Energy IPO Price Band - Rs 304 To Rs 321

Ather Energy IPO Issue Size - Rs 2,981 crore

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(With Inputs From PTI)