Ather Energy’s share was listed on the Bombay Stock Exchange (BSE) today i.e. on May 6 at ? 326.05, 1.57% above the issue price. On the National Stock Exchange (NSE), the share was listed at ? 328, 2.18% above the issue price. However, after the day’s trading, the stock closed at ? 300.75, down 6.31% from the issue price on the BSE. At the same time, the share on NSE closed at ? 300, down 6.54% from the issue price. The issue price of Ather Energy’s IPO was ? 321. Retail investors could bid for a maximum of 598 shares. For this IPO, retail investors could apply for a minimum of one lot i.e. 46 shares. As per the upper price band of ?321 of the IPO, an investment of ?14,766 was to be made for 1 lot. At the same time, retail investors could bid for a maximum of 13 lots of the IPO i.e. 598 shares. For which investors had to invest a maximum of ?1,91,958. 1,340 rupees were raised from anchor investors
Ather Energy had raised ?1,340 crore from anchor investors for the IPO. Shares were allotted at ?321 per share. A total of 4.18 crore equity shares have been allotted to 36 anchor investors. These include names like SBI, Abu Dhabi Investment Authority (ADIA), Invesco, Franklin Templeton, ICICI Prudential, Morgan Stanley and Societe Generale. Where will the funds raised from the IPO be used
Ather Energy will use the IPO proceeds to fund its new factory in the western state of Maharashtra, research and development, repayment of loans and general corporate purposes. Ather is one of the top-4 electric scooter manufacturers in India
As of April 2024, Ather Energy was one of the top-4 electric scooter manufacturers in India along with Ola Electric, TVS and Bajaj Auto. Ather Energy was incorporated in October 2013.
This company is engaged in the business of designing, manufacturing, selling and servicing electric two-wheelers. The company also has its own charging infrastructure. What is an IPO?
When a company issues its shares to the general public for the first time, it is called an Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
