Ather Energy Nails Down ₹1,340 Crore From Anchor Investors Ahead of IPO

Ather Energy, the popular electric scooter maker backed by Hero MotoCorp, just scored a big win before its IPO launch. The company raised a whopping ₹1,340 crore from a bunch of high-profile investors known as anchor investors. This happened days before the public can buy shares in Ather Energy, which is happening on Monday, April 28th.

Some of the big names who invested include big financial players like Custody Bank of Japan, Franklin Templeton, and Abu Dhabi Investment Authority. You also have some well-known names like Morgan Stanley Investment Management and Societe Generale on the list.

Ather Energy also got support from a number of Indian Mutual Funds like PSBI Mutual Fund, Aditya Birla Sun Life MF, ICICI Prudential MF, Invesco MF, Aditya Birla Sun Life Insurance, ITI MF, and Union MF. To be specific, they sold 4.17 crore shares at ₹321 each, which is the top end of the price range they set.

This ₹2,981-crore IPO will run from April 28th to April 30th and is the first big one for this financial year. Ather Energy plans to use this money to build a new electric scooter factory in Maharashtra and to pay down some of its existing debts.

The company’s valuation at the top price point is pegged at ₹11,956 crore. Before Ather Energy, Ola Electric Mobility, another electric scooter maker, went public last year with a ₹6,145-crore IPO.

Ather Energy isn’t just focused on going public; they’re also investing in their future. Recently, they announced an expansion of their research and development (R&D) facilities. They’re serious about making better electric scooters!

The IPO is divided up like this: 75% of the shares will go to big institutional investors, 15% to smaller investors, and the remaining 10% to retail investors like you and me.