Ather Energy plans to file Rs 4,000 crore IPO next week

The news comes exactly a month following the successful listing of Ola Electric

According to media reports, Bangalore-based electric 2-wheeler maker, Ather Energy, plans to file its draft prospectus for an IPO next week. The company is said to be targeting a valuation of US$ 2–2.5 billion.

Ather Energy is looking to raise Rs 3,500-4,000 crore through the IPO, comprising a fresh issue and an offer for sale by existing shareholders. Some of the funds raised through the IPO will be used to expand production capacity.

Reports also suggest that Ather Energy has engaged investment banks HSBC, JPMorgan, Axis Capital, JM Financial, and Nomura to manage the IPO.

Although Ather Energy hasn’t confirmed these reports, the news comes exactly a month following the successful listing of Ola Electric, which raised Rs 6,146 crore at a valuation of US$ 4 billion.

Source: ET Auto