Ather Energy IPO Subscribed by 13%; GMP Remains Flat on Day 1
The Initial Public Offering (IPO) of Ather Energy was subscribed by 13% on the first day of the subscription on April 28, as of 2:00 pm.
Ather Energy IPO Subscribed by 13%; GMP Remains Flat on Day 1
The Initial Public Offering (IPO) of Ather Energy was subscribed by 13% on the first day of the subscription on April 28, as of 2:00 pm. The company raised ₹1,340 crore from anchor investors on Friday, April 25.
Retail individual investors (RIIs) subscribed to 48% of the issue, while non-institutional investors bid for 14%. The GMP of the stock remains flat in the unlisted market.
About the IPO
The IPO is a combination of a fresh issue and an offer-for-sale, valued at ₹2,626 crore and ₹354.75 crore, respectively. The funds will be utilised for setting up an electric two-wheeler factory in Maharashtra and for debt reduction.
Notably, Ather Energy will become the second electric two-wheeler company after Ola Electric Mobility to list on the stock exchanges. The company has set aside 75% of the issue for qualified institutional buyers, while keeping 15% and 10% for non-institutional investors and retail investors.
