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Ather Energy is a pure-play EV firm that makes all its items ground up in India.
The suggested Ather Energy IPO is a mix of a fresh problem of equity shares worth Rs 3,100 crore and an Offer For Sale (OFS) of 2.2 crore equity shares by marketers and financiers investors.
Electric two-wheeler manufacturer Ather Energy on Monday submitted initial documents with funding markets regulatory authority Sebi to increase funds with an Initial Public Offering (IPO). The suggested IPO is a mix of a fresh problem of equity shares worth Rs 3,100 crore and an Offer For Sale (OFS) of 2.2 crore equity shares by marketers and financiers investors, according to the Draft Red Herring Prospectus (DRHP).
Those marketing shares in the OFS are– Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II, 3State Ventures Pte Ltd, IITM Incubation Cell and IITMS Rural Technology and Business Incubator to name a few.
Proceeds from the fresh problem will certainly be made use of for capital investment to develop an electrical two-wheeler manufacturing facility in Maharashtra, financial investment in r & d, advertising and marketing efforts, payment of lending and for basic business functions.
This will certainly be the 2nd electrical two-wheeler firm aiming to go public after Ola Electric Mobility drifted its Rs 6,145-crore IPO inAugust This was likewise the initial problem by a car manufacturer in the nation in greater than twenty years.
Ola Electric’s IPO had a fresh problem of approximately Rs 5,500 crore and an OFS of approximately 8,49,41,997 equity shares.
Ather Energy is a pure-play EV firm that makes all its items ground up inIndia Since its beginning in 2013, the firm has actually concentrated on item and modern technology growth in India in order to construct an E2W community.
At existing, the electrical two-wheeler manufacturer’s profile includes 2 product– the Ather 450 and the Ather Rizta– consisting of an overall of 7 variations. Its E2Ws are matched by an item community, which includes billing facilities, devices and the Atherstack.
Axis Capital, HSBC Securities and Capital Markets (India) Pvt Ltd, JM Financial, and Nomura Financial Advisory Securities (India) Pvt Ltd are the book-running lead supervisors to the problem.
