New Delhi, April 23 (HS): Ather Energy, a prominent electric two-wheeler manufacturer in India, is set to launch its IPO on April 28, which will be open for subscription until April 30. Anchor investors can subscribe starting April 25. The price band for the IPO is fixed at ₹304 to ₹321 per share.

Following the IPO closure, share allotments will be made on May 2, with listings on BSE and NSE scheduled for May 6. Ather aims to raise ₹2,626 crores, having revised its initial target from ₹3,100 crores due to market volatility. The IPO includes the sale of 1.10 crore shares through an offer-for-sale, allowing promoters Tarun Sanjay and Swapnil, along with select corporate investors, to divest their stakes.

Notably, Hero MotoCorp holds a 40% stake in Ather and will not sell during the IPO. Proceeds will fund a new factory in Maharashtra, enhance R&D, settle debts, and support general corporate needs.

Ather Energy specializes in electric two-wheeler manufacturing, charging infrastructure, battery packs, and software systems. This IPO marks Ather as the second electric vehicle firm to enter the stock market, following Ola Electric.

Hindusthan Samachar / Jun Sarkar