Ather Power IPO: Electrical two-wheeler maker Ather Power Ltd on Friday mentioned it has mobilised ₹1,340 crore from anchor traders days forward of the launch of its inITIal share sale for public subscription.
The Ather Power IPO opens for public subscription on April 28.
A number of the key anchor traders who had been allotted shares embrace Custody Financial institution of Japan, Franklin Templeton, Abu Dhabi Funding Authority, Eastspring Investments, Morgan Stanley Funding Administration and Societe Generale.
PSBI Mutual Fund (MF), Aditya Birla Solar Life MF, ICICI Prudential MF, Invesco MF, Aditya Birla Solar Life Insurance coverage, ITI MF and Union MF are among the many anchor traders.
In line with a round uploaded on BSE’s web site, the electrical two-wheeler maker has allotted 4.17 crore shares to 36 funds at ₹321 apiece, which can also be the higher finish of the value band. This aggregates the transaction measurement to ₹1,340 crore.
The ₹2,981-crore public subject, with a value band of ₹304 to ₹321 a chunk, will likely be obtainable for public subscription from April 28 to April 30.
This would be the first mainboard public subject of the present monetary 12 months (2025-26).
The IPO will likely be a mixture of recent subject of fairness shares price ₹2,626 crore and an offer-for-sale of 1.1 crore fairness shares by promoters and different shareholders.
Ather intends to lift funds for institution of an electrical two-wheeler manufacturing facility in Maharashtra, and debt discount.
On the higher finish of the value band, the IPO measurement is pegged at ₹2,981 crore, inserting the corporate’s total valuation at ₹11,956 crore.
This would be the second electrical two-wheeler firm trying to go public after Ola Electrical Mobility floated its ₹6,145-crore IPO in August final 12 months. Ola Electrical’s IPO had a recent subject of as much as ₹5,500 crore and an OFS of as much as 8.5 crore fairness shares.
Other than its IPO plans, Ather Power has additionally been increasing its analysis and improvement capabilities. Lately, the corporate introduced the growth of its R&D and testing capabilities at its product testing & validation centre.
The electrical two-wheeler firm has put aside 75 per cent of the difficulty for certified institutional consumers, 15 per cent for non-institutional traders and the remaining 10 per cent for retail traders.
Axis Capital, JM Monetary, Nomura Monetary Advisory and Securities (India), and HSBC Securities & Capital Markets are the IPO’s book-running lead managers. The fairness shares of the corporate are anticipated to listing on Could 6 on the inventory exchanges.
