Ather Energy: Ola Electric’s IPO created a stir in the market after listing and made investors rich. The company hit the upper circuit for two consecutive days after listing and filled the pockets of the investors. Now, encouraged by this success, Ola’s biggest rival Ather Energy has also started preparing to bring IPO. The company can submit IPO documents to SEBI in early September itself. The company’s IPO can be worth $450 million (about Rs 3700 crore). The special thing is that Ather Energy became a unicorn on Tuesday itself and with this the intention to bring IPO has also come to the fore.
Ather Energy gets Rs 600 crore funding from NIIF, valuation reaches $1.3 billion
Ather Energy, the country’s fourth largest electric two-wheeler manufacturer, has raised another Rs 600 crore from its investor National Investment and Infrastructure Fund (NIIF). With this funding, the company has now joined the unicorn list with a valuation of $1.3 billion. Media reports have claimed that the company has also appointed HSBC, JP Morgan and Nomura for the IPO. Ather Energy was founded by Tarun Mehta and Swapnil Jain.
After the IPO, the company’s valuation will be $2 billion
Tiger Globe Management, Sachin Bansal and Binny Bansal are among the major investors of Ather Energy. Currently, the company has two manufacturing units in Tamil Nadu. The third plant is going to open soon in Maharashtra. This is the reason why the company is now seriously thinking about the IPO. The name of the company is also being changed from Ather Energy Private Limited to Ather Energy Limited. Considering the market conditions, the company’s IPO may come in the second half of this financial year. After the IPO, the valuation of the company will be $2 billion.
Ola has 5 percent and Ather has 9 percent market share in the EV segment
This year, EV (electric vehicle) sales in the country can increase by 66 percent. With the increase in manufacturing of EV batteries in the country, the products will become cheaper and their sales will also increase. In this sector, Ola Electric is at the top with 35 percent market share. At the same time, Ather Energy has a 9 percent market share. Ola Electric had told that the company is going to use the money raised from the IPO to expand its Gigafactory and on R&D.
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