Ather Converts To Public Limited Company
Ather's rival in India, Ola Electric, has also received approval from the Securities and Exchange Board of India (Sebi) to proceed with its own IPO
Ather Energy has now become a public limited company ahead of its upcoming IPO. The regulatory filings indicate that the company's authorised share capital has increased to Rs 50 crore. According to media reports, it plans to issue 2.96 bonus shares for every existing share held by its shareholders.
Additionally, Ather Energy has undergone several fundraising activities this year, including investments from its largest shareholder, Hero Motocorp and venture debt firm Stride Ventures. These investments have positioned the company for its IPO and its expansion in the electric vehicle market.
On the other hand, Ather's rival in India, Ola Electric, has also received approval from the Securities and Exchange Board of India (Sebi) to proceed with its own IPO, with plans to raise Rs 5,500 crore through a combination of a fresh share issue and an offer for sale.
