Global investors like Abu Dhabi Investment Authority, Citigroup, Societe Generale, Goldman Sachs, and Morgan Stanley as well as domestic institutional investors like HSBC MF, Kotak Mahindra MF, SBI MF, HDFC Life, and Aditya Birla Sun Life AMC were buyers for the 3.45 percent stake in RBL Bank.
HDFC Securities reiterated 'buy' on the stock and considers Ather Energy as top pick and gave a price target of Rs 748 per share
Ola Electric shares hit an intraday high of Rs 61.88 apiece, while Ather Energy shares hit an all-time high of Rs 512.80 apiece, as seen at 12.50 am.
Ather has introduced BaaS, expanded its buyback programme and launched an extended warranty scheme.
Ather Energy share price: HSBC expects technology and distribution expansion to drive further market share gains.
The partnership will aim to accelerate the growth of clean mobility and advanced manufacturing sectors.
The electric two-wheeler race tightens as competition heats up
Ather Energy's revenue from operations grew 29 percent to Rs 676 crore in the quarter under review. The same was reported at Rs 523.4 crore in the year-ago period.
Ather Energy board has informed that a board meeting will be held on 12th May to consider and approve the financial results for the quarter and year ended March 2025.
Analysts believe Ather Energy IPO was aggressively priced, especially when benchmarked against peer OLA Electric. However, continued downward pressure could make it more attractive to value-conscious investors.
Ather Energy became the second electric two-wheeler company to go public after Ola Electric Mobility floated its Rs 6,145-crore IPO last August.
The highly anticipated mainboard IPO of LG India, the Indian subsidiary of South Korea’s LG Electronics, is expected to launch in May 2025 following approval from SEBI.
Ather Energy shares will be listed on the BSE and National Stock Exchange (NSE) on 6th May.
The issue, with a price band of Rs 304-321 apiece, is the first mainboard public issue of the current financial year 2025-26.
For aggressive and long-term investors, Gaurav Garg from stock broking app Lemonn said, "Subscribe only if you have a high-risk appetite as losses and competition are big overhangs."
Ather’s Tarun Mehta said the ongoing tariff tussle is primarily between the US and China, and India, not being directly involved, could benefit.
Ather Energy IPO | The maiden public issue will open on April 28 and close on April 30.
In FY24, Ather experienced a loss before taxes of Rs 1059.7 crore, which is considerably greater than the Rs 864.5 crore loss recorded in FY23 and the Rs 344.1
Founders Tarun Mehta and Swapnil Jain are cashing out a total of 19.6 lakh shares between them – 9.8 lakh each. With a weighted average acquisition cost of just Rs 21.09 per share, the duo is looking at over 15x returns.
Ather Energy IPO | It will become the second pure play Indian electric vehicle manufacturer to go public, following Ola Electric’s IPO last year.
Ather Energy will be the second pure-play Indian EV manufacturer to go public in India, following Ola Electric’s IPO last year.
The IPO will be a combination of a fresh issue of equity shares worth Rs 3,100 crore and an offer-for-sale of 2.2 crore equity shares by promoters and investors, according to the Draft Red Herring Prospectus (DRHP).
With Gen 3, Ola aims to enhance performance, safety, efficiency and reliability, while also improving its gross margins by 20 percentage points over the next 12 months
The scooter's dashboard will now support eight regional languages – Hindi, Marathi, Gujarati, Bengali, Tamil, Telugu, Malayalam, and Kannada, enhancing the overall riding experience, the company said.