1 week Ago
Indian electric two-wheeler-maker Ather Energy filed for an IPO consisting of a fresh issue of shares worth Rs 3,100 crore ($369.4 million), it said in a draft red herring prospectus on Monday. Backed by Indian bike-maker Hero MotoCorp , Ather makes electric scooters and competes with recently-listed Ola Electric.
Investors and some top shareholders will sell up to 22 million shares in the IPO. Proceeds will be used for capital expenditure to establish an electric two-wheeler factory in India's Maharashtra state, and for research and development, Ather said. The book-running lead managers for the issue include Axis Capital and JM Financial .
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