Upcoming IPO: Ather Energy cuts IPO size, valuation lowered to ₹12,800 crore: Report

Upcoming IPO: Ather Energy is expected to reduce the size of its IPO to between ₹ 2,900 crore and ₹ 3,200 crore, down from the initial target range of up to ₹ 3,500 crore to ₹ 3,700 crore, said CNBC-TV18 in its news report citing its sources. The electric two-wheeler manufacturer is now aiming for a post-money valuation of approximately ₹ 12,800 crore, which is lower than the previous target of ₹ 14,000 crore. This reduction in the issue size is attributed to volatile market conditions and a lack of investor enthusiasm, said CNBC-TV18 in its report.

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