Overview
- Ather Energy's IPO, priced at Rs 304–321 per share, opened for subscription on April 28 and will close on April 30.
- The offering includes a Rs 2,626 crore fresh issue and an Offer for Sale of 1.1 crore shares, with proceeds earmarked for manufacturing expansion, R&D, and charging network growth.
- Anchor investors, including Franklin Templeton and Abu Dhabi Investment Authority, contributed Rs 1,340 crore ahead of the public subscription.
- The IPO's grey market premium stands at Rs 0, reflecting tempered expectations for listing gains among market participants.
- Brokerages are divided: Ventura Securities recommends subscribing for listing gains, while Bajaj Broking advises caution due to ongoing losses and high debt.