06 September 2024
Hero MotoCorp-backed Ather Energy has set an ambitious valuation target of $2-2.25 billion (about crore), as the electric scooter maker prepares to file its draft prospectus next week for an initial public offering (IPO), said people familiar with the matter.
The Bengaluru-headquartered startup is looking to raise crore through the IPO which will comprise a fresh issue and an offer for sale by existing shareholders. Funds raised through the fresh issue would be used partly for capacity expansion, the people said.
Hero MotoCorp-backed Ather Energy has set an ambitious valuation target of $2-2.25 billion (about crore), as the electric scooter maker prepares to file its draft prospectus next week for an initial public offering (IPO), said people familiar with the matter.
The Bengaluru-headquartered startup is looking to raise crore through the IPO which will comprise a fresh issue and an offer for sale by existing shareholders. Funds raised through the fresh issue would be used partly for capacity expansion, the people said.
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