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Ather Energy converts preference shares into equity; likely to launch IPO in April

Economic Times · 3m

Ather Energy Ltd, an electric two-wheeler maker, is gearing up for its IPO by converting compulsory convertible preference shares into equity. This conversion complies with regulatory requirements and prepares the company for its expected IPO launch in April. Ather aims to raise funds for a new factory and debt reduction, offering a mix of fresh equity and shares from promoters. This move follows Ola Electric's IPO last year and expands Ather's research capabilities.