By Sheetal Kumari | March 3, 2025
MC Desk | March 11, 2025
Ather Energy Pvt., backed by Hero MotoCorp Ltd., is set to launch its initial public offering (IPO), aiming for a valuation of about $1.2 billion, according to a report on Bloomberg.
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The electric scooter maker may sell shares by the end of March or early April. Initially, it targeted a $2 billion valuation but has revised expectations, Bloomberg report added.
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Ather aims to raise around $400 million through the IPO.
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Hero MotoCorp, Ather’s largest shareholder with over 37% stake, will not participate in the share sale.
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India’s benchmark Sensex has declined about 5% this year and is 14% down from its September peak, which could impact investor sentiment for Ather’s IPO.
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Founded in 2013, Ather competes with Bajaj Auto Ltd., TVS Motor Co., and Ola Electric Mobility Ltd.
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Ather’s listing follows Ola Electric’s debut last year.
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Moneycontrol advises users to check with certified experts before taking any investment decisions.
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