Upcoming IPO: As the Indian stock market acquired lost land, the first mainboard public offer for the financial year 2025-26 (FY26) by EV maker Ather Energy is set to hit Dalal Street next week.
According to the company’s Red Herring Prospects (RHP), the initial public offering of Ather Energy, filed with the market regulator SEBI, will open for membership on Monday, April 28 and will close on Wednesday, 30 April. Anchor investor bid date has been fixed on Friday, 25 April.
The pricing band for Ather Energy will be declared on 23 April tomorrow.
Ather Energy IPO Size
Electric scooter manufacturer Ather Energy has reduced the size of its IPO, as it is now a plan to lift 2,626 crore through its earlier plan through fresh share sales 3,100 crores.
In addition, the proposal (offs) size for sale is also reduced. The current shareholders will now shut down 11.1 million shares, first shown the company’s RHP, below 22 million shares.
Ether plans to use 927.2 crore from the latest funds to raise this E2W factory in Maharashtra. moreover, 40 crores will be used to repay or pre-paying some borrows received by the company, 750 crores towards research and development 300 crores for expenses towards completing marketing initiative. The remaining funds will be used for normal corporate purposes.
Axis Capital, HSBC Securities and Capital Markets (India), JM Financial and Nomura Financial Advisory and Securities Athler are book-hanging manager for IPO, while MUFG INTIME INTIME INDIA is the registrar of the issue.
