by
Published: Sep 9, 2024 2:52 PM | 1 min read
Follow Us
Electric two-wheeler manufacturer has announced its plans to go public with an initial public offering (IPO). The company has reportedly filed preliminary papers with capital markets regulator SEBI for floating the IPO.
According to media reports, the public offer consists of a fresh issue of shares worth ₹3,100 crore. The issue also includes an offer for sale portion of up to 2.2 crore shares by investors and promoters.
The IPO includes an offer for sale of up to 22 million shares by investors and promoters. Under the OFS, Tarun Sanjay Mehta and Swapnil Babanlal Jain will offload 1 million equity shares in the company. Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II and 3State Ventures Pte. Ltd are among the corporate selling shareholders.
The funds raised from the IPO will be used for capital expenditures for establishing a new electric two-wheeler manufacturing facility in Maharashtra and will also support ongoing research and development efforts, say media reports.
Ather's filing comes a month after rival Ola Electric's listed on the bourses on August 9, 2024.
Read more news about Internet Advertising India, Marketing News, PR and Corporate Communication News, Digital Media News, Television Media News
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook YouTube & Google News