NEW DELHI: Electrical 2-wheeler producer Ather Vitality on Monday, submitted its Draft Crimson Herring Prospectus (DRHP) to Sebi, to lift funds by an Preliminary Public Providing (IPO).
The proposed IPO consists of a recent subject of fairness shares amounting to Rs 3,100 crore and an Provide For Sale (OFS) of two.2 crore fairness shares by promoters and investor shareholders, as per the DRHP.
The proceeds from the recent subject can be utilized for numerous functions, together with capital expenditure for establishing an electrical two-wheeler manufacturing facility in Maharashtra, funding in analysis and growth, advertising and marketing initiatives, reimbursement of loans, and normal company functions.
The entities taking part within the OFS embrace Caladium Funding Pte Ltd, Nationwide Funding and Infrastructure Fund II, 3State Ventures Pte Ltd, IITM Incubation Cell, and IITMS Rural Know-how and Enterprise Incubator, amongst others.
Ather Vitality’s IPO follows Ola Electrical Mobility’s Rs 6,145-crore IPO filed in August, marking the second electrical two-wheeler firm searching for to go public. Ola Electrical’s IPO was additionally the primary subject by an automaker in India in over twenty years, with a recent subject of as much as Rs 5,500 crore and an OFS of as much as 8,49,41,997 fairness shares.
Ather Vitality’s present portfolio contains two product traces, the Ather 450 and the Ather Rizta, with a complete of seven variants.
Ather Vitality’s E2Ws are supported by a product ecosystem that features charging infrastructure, equipment, and the Atherstack. The book-running lead managers for the problem are Axis Capital, HSBC Securities and Capital Markets (India) Pvt Ltd, JM Monetary, and Nomura Monetary Advisory Securities (India) Pvt Ltd.
The proposed IPO consists of a recent subject of fairness shares amounting to Rs 3,100 crore and an Provide For Sale (OFS) of two.2 crore fairness shares by promoters and investor shareholders, as per the DRHP.
The proceeds from the recent subject can be utilized for numerous functions, together with capital expenditure for establishing an electrical two-wheeler manufacturing facility in Maharashtra, funding in analysis and growth, advertising and marketing initiatives, reimbursement of loans, and normal company functions.
The entities taking part within the OFS embrace Caladium Funding Pte Ltd, Nationwide Funding and Infrastructure Fund II, 3State Ventures Pte Ltd, IITM Incubation Cell, and IITMS Rural Know-how and Enterprise Incubator, amongst others.
Ather Vitality’s IPO follows Ola Electrical Mobility’s Rs 6,145-crore IPO filed in August, marking the second electrical two-wheeler firm searching for to go public. Ola Electrical’s IPO was additionally the primary subject by an automaker in India in over twenty years, with a recent subject of as much as Rs 5,500 crore and an OFS of as much as 8,49,41,997 fairness shares.
Ather Vitality’s present portfolio contains two product traces, the Ather 450 and the Ather Rizta, with a complete of seven variants.
Ather Vitality’s E2Ws are supported by a product ecosystem that features charging infrastructure, equipment, and the Atherstack. The book-running lead managers for the problem are Axis Capital, HSBC Securities and Capital Markets (India) Pvt Ltd, JM Monetary, and Nomura Monetary Advisory Securities (India) Pvt Ltd.
