Soon you'll be able to buy Ather Energy shares, SEBI approves IPO proposal

Ather Energy had filed a request for an initial public offering earlier this year. This request made by Ather Energy has now been accepted by the Securities and Exchange Board of India (SEBI). The regulatory body has cleared Ather's proposal alongside six other companies from various sectors.

Electric two-wheeler maker Ather Energy's proposed IPO combines a fresh issue of equity shares worth ₹3,100 crore with an Offer For Sale (OFS) of 2.2 crore equity shares by promoters and investors shareholders. Those selling shares in the OFS are Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II, 3State Ventures Pte Ltd, IITM Incubation Cell and IITMS Rural Technology and Business Incubator among others.

Ather Energy to establish a factory in Maharashtra from IPO proceeds

Proceeds from the fresh issue will be used for capital expenditure to establish an electric two-wheeler factory in Maharashtra, investment in research and development, marketing initiatives, repayment of loans and for general corporate purposes.

This will be the second electric two-wheeler company looking to go public after Ola Electric Mobility which floated its ₹6,145-crore IPO in August. This was also the first issue by an automaker in the country in more than 20 years.

Ather Energy is a pure-play EV company that designs all its products ground up in India. Since its inception in 2013, the company has focused on product and technology development in India in order to build an E2W ecosystem.

Ather's Offerings

At the moment, Ather is offering a total of three electric scooters in its portfolio. These include the Ather Rizta series and the Ather 450 series. The pricing of these scooters ranges from ₹1.09 lakh (ex-showroom) to ₹1.89 lakh (ex-showroom). The EV maker is also offering special year-end benefits of up to ₹20,000 presently. Ather's scooters are packed with the most modern technology and are offered in eye-catching colours. These scooters include features like a touchscreen display, two to three riding modes, hill-hold, anti-skid and other key safety features depending upon the model you opt for.

(With inputs from PTI)

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