Ather Energy has recently captured the spotlight with its much-anticipated IPO, which opened for subscription on April 28 and wrapped up on April 30. With a total valuation of ₹2,981 crore, this public offering comprises ₹2,626 crore in fresh equity and an offer-for-sale amounting to ₹354.76 crore. The response has been noteworthy, particularly from retail investors, who showed impressive interest in this electric vehicle manufacturer.
Strong Investor Interest in Ather Energy’s IPO
The Ather Energy IPO has garnered significant attention from various investor segments. Here’s a quick breakdown of the subscription rates:
- Retail Investors: Subscribed 1.78 times their allotted shares.
- Qualified Institutional Buyers (QIBs): Achieved a subscription of 1.70 times.
- Non-Institutional Investors (NIIs): Showed a more reserved response, with a subscription rate of just 66%.
Overall, the IPO was subscribed 1.43 times, indicating a healthy market interest.
Key Dates for Ather Energy’s IPO Allotment
The excitement continues as the allotment of shares is set to be finalized on May 2. Investors who participated in the bidding process should keep their PAN or application numbers ready for the upcoming allotment results. Additionally, Ather Energy’s shares are expected to make their debut on the BSE and NSE on May 6, marking a significant milestone for the company.
Who’s Behind the Ather Energy IPO?
Ather Energy’s IPO is being managed by a consortium of prominent financial institutions, including:
- Axis Capital
- HSBC Securities
- JM Financial
- Nomura
Moreover, Link Intime India has been appointed as the official registrar, overseeing the allocation process and maintaining investor records.
Insight into the IPO Composition
The ₹2,981 crore IPO is structured to support Ather Energy’s ambitious growth strategy. The fresh issue includes 8.18 crore new shares, aimed at raising ₹2,626.3 crore for expansion initiatives. Additionally, existing shareholders are capitalizing on the offer-for-sale by selling 1.11 crore shares, which contributes ₹354.76 crore to the total offering.
Stay Updated with Ather Energy’s Progress
For those eager to follow the latest updates regarding Ather Energy’s IPO, this live blog will provide timely news and insights every 20 minutes. As the electric vehicle market continues to expand, Ather Energy is positioned to play a crucial role in shaping the future of sustainable transportation.
In conclusion, Ather Energy’s IPO has not only attracted strong interest from investors but also represents a significant step towards the growth of electric mobility in India. Be sure to mark your calendars for the upcoming allotment and listing dates to stay in the loop!
