Chhatrapati Smabhajinagar
Ather Energy, a leading electric two-wheeler manufacturer, is set to go public with its Initial Public Offering (IPO) on April 28.
The price band for the IPO is Rs 304 to Rs 321 per equity share, with a face value of Rs 1. The subscription will close on April 30. The funds raised will be used for new projects in Maharashtra, research and development, debt repayment, marketing, and other corporate needs. Hero MotoCorp, holding 40% of Ather, will not sell its stake. The IPO includes new shares worth Rs 2,626 crores and an Offer for Sale (OFS) of 1.1 crore shares from current investors and promoters. Ather designs and manufactures electric scooters, battery packs, and charging infrastructure in India.