Mumbai7 minutes ago
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Electric two-wheeler-making Indian company Ather Energy has reduced the IPO size by 25% to Rs 3,000 crore. With this, the company will bring the IPO in place of April in May.
In December 2024, Ather, the Security Exchange Board of India i.e. SEBI had submitted draft Red Herring Prospects (DRHP) for the pass IPO. Then the issue size of the IPO was Rs 4,000 crore. Public issue will be released as well as offer for sale (offs) along with releasing new shares.
Revised DRHP will file next week
The company is preparing to file revised draft papers near the next week (SEBI). This will include changes in IPO size.
Along with this, the company can also cut valuations by 10%. Earlier the valuation of the company was estimated at $ 1.4 billion (about Rs 12,000 crore).
Ather Energy was incorporated in October 2013.
Ather Energy has reached the category of unicorn startup
In October 2024, the company raised $ 71 million, or Rs 595 crore in a new funding round in the leadership of the current investor, National Investment and Infrastructure Fund (NIIF). After this funding round, the valuation of Ather Energy increased to Rs 1.3 billion, or Rs 10,913 crore and reached the category of unicorn startups.
In May, 286 crore was raised from the combination of date-equity
The company has collected funding in several rounds since the end of 2023. In May this year, it raised Rs 286 crore from the combination of date and equity.
Struid Ventures invested 200 crores in Ather
This funding was mainly achieved through venture date and co-founders. Venture date firm Strete Ventures has invested around 200 crores in Ather Energy through debentures. At the same time, startup co-founder Tarun Sanjay Mehta and Swapnil Jain have invested Rs 43.28 crore through series F preference shares.
In September last year, Hero MotoCorp announced its board approval for investment of Rs 550 crore in Ather Energy.
Atthe is one of the top-4 electric scooter manufacturers in India
Top-4 was one of the top-4 electric scooter manufacturers in India with Ather Energy, Ola Electric, TVS and Bajaj Auto as of April 2024. Ather Energy was incorporated in October 2013. The company is associated with the designing, manufacturing, selling and servicing business of electric two-wheelers. The company also has its own charging infrastructure.
