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The stock of Ather Energy was listed at ₹ 326.05 above the issue price on Bombay Stock Exchange (BSE) on 6 May today. The share was listed at ₹ 328 above 2.18% from the share issue price on the National Stock Exchange (NSE). The issue price of the IPO of Ather Energy was ₹ 321.
- This was open for IPO retail investors to bid from 28 April to 30 April, which was subscribed to Total 1.50 times.
- In retail category, IPO 1.89 times, qualified Institutional Buyers (QIB) category was 1.76 times and non-institutional investors (NII) category 0.69 times subscribed.
Maximum 598 Retail investors could have bidding for share For this IPO, retail investors could apply for minimum for a lot ie 46 shares. Investment of ₹ 14,766 was to be made for 1 lot at the rate of ₹ 321, the upper prize band of the IPO.
At the same time, Retail Investors could do bidding for IPO’s maximum 13 lots i.e. 598 shares. For which investors would have to invest maximum ₹ 1,91,958.
Anchor was raised from investors Rs 1,340 Ather Energy had raised ₹ 1,340 crore from anchor investors for IPO. The shares were allotted at ₹ 321 per share. A total of 4.18 crore equity shares have been allocated to 36 anchor investors. These include names like SBI, Abu Dhabi Investment Authority (ADIA), Invesko, Franklin Templeton, ICICI Prudential, Morgan Stanley and Society Janeral.
Where is the funds raised from IPO used The income of Ather Energy IPO will be used for funding its new factory in the western state of Maharashtra, research and development, repayment of loans and for general corporate purposes.
Atthe is one of the top-4 electric scooter manufacturers in India Top-4 was one of the top-4 electric scooter manufacturers in India with Ather Energy, Ola Electric, TVS and Bajaj Auto as of April 2024. Ather Energy was incorporated in October 2013. The company is associated with the designing, manufacturing, selling and servicing business of electric two-wheelers. The company also has its own charging infrastructure.
What is IPO? When a company releases its shares for the common people for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
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