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4d ago

Ather Energy Finalizes IPO Price Band, Opens Subscription April 28

The electric two-wheeler maker's Rs 2,626 crore IPO will include a fresh equity issue and a reduced offer-for-sale, targeting a $1.4 billion valuation.

Man charging electric motor scooter
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Ather Energy unveils growth blueprint ahead of IPO next week
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Overview

  • Ather Energy has set its IPO price band at Rs 304-321 per share, with anchor investor bidding opening April 25 and public subscription running April 28-30.
  • The IPO includes a Rs 2,626 crore fresh equity issue and an offer-for-sale of 11.1 million shares, halved from the initial plan of 22 million shares.
  • Proceeds will fund a new manufacturing facility in Maharashtra, R&D, debt repayment, and marketing, with Rs 927 crore allocated for the plant.
  • Hero MotoCorp, holding a 40% stake, will not sell its shares, while co-founders and institutional investors like Tiger Global will participate in the offer-for-sale.
  • This marks the first main-board IPO of FY26 and comes after a nearly ten-week gap in new listings on India's stock exchanges.