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Ather raises Rs 1,340 Cr from anchor investors ahead of listing

EntrackrEntrackr ยท 2m ago
Ather raises Rs 1,340 Cr from anchor investors ahead of listing
Medial

Ather raises Rs 1,340 Cr from anchor investors ahead of listing Electric two-wheeler maker Ather Energy has allocated shares worth Rs 1,340 crore (around $157 million) to anchor investors ahead of its initial public offering (IPO). The board at Unicommerce has passed a resolution to offer 4,17,45,576 equity shares at an issue price of Rs 321 each (upper-band) to its anchor investors, its regulatory filing accessed from the Bombay Stock Exchange (BSE) shows. SBI, Abu Dhabi Investment Authority (ADIA), Invesco, Franklin Templeton, ICICI Prudential, Morgan Stanley, and Societe Generale are some key anchor investors for Ather. Out of the total issue, 49.6% of the total allocation was made to 7 domestic mutual funds through 14 schemes, the filing further added. Ather Energy initiated its public offering from (28th - 30th April) at a price band of (Rs 304-321) with a minimum bid quantity of 46 equity shares. Before the anchor round, Hero MotoCorp is the largest shareholder in Ather Energy, holding 38.19% of the company. It is followed by Caladium Investment (GIC) with a 15.43% stake. The National Investment and Infrastructure Fund (NIIF) and Tiger Global hold 14.22% and 6.56%, respectively. Atherโ€™s co-founders, Mehta and Jain, each hold 6.81%. According to Entrackrโ€™s estimates, Ather valued itself at $1.44 billion in its initial public offering. In the first nine months of FY25, the company sold 1,08,000 vehicles, generating revenue of Rs 1,578.9 crore. However, it posted a loss of Rs 579.6 crore during the same period. For the full fiscal year ending March 2024, the company reported revenue of Rs 1,753 crore with a loss of Rs 1,062 crore.

Retail investors eye shareholder category for better IPO allotment; upcoming issues to watch

Money ControlMoney Control ยท 9m ago
Retail investors eye shareholder category for better IPO allotment; upcoming issues to watch
Medial

The IPO market in India is booming, with numerous companies going public. Retail investors are particularly interested in IPOs that offer a 'shareholder' category, as this increases their chances of getting allotted shares. Some upcoming IPOs that may have a shareholder category include NTPC Green Energy, HDFC Bank's subsidiaries HDB Financial Services and HDFC Credila, Ather Energy, Hero MotoCorp's subsidiaries Ather Energy and Hero Fincorp, SJVN Green Energy, Coal India's subsidiaries Bharat Coking Coal and Central Mine Planning and Design Institute, Asirvad Micro Finance (a subsidiary of Manappuram Finance), Canara Robeco AMC (a subsidiary of Canara Bank), and Belstar Microfinance (a subsidiary of Muthoot Finance).

Exclusive: Decoding Atherโ€™s unicorn round, Q1 FY25 numbers

EntrackrEntrackr ยท 10m ago
Exclusive: Decoding Atherโ€™s unicorn round, Q1 FY25 numbers
Medial

Electric scooter manufacturer Ather Energy has entered into a coveted unicorn club with $71 million in funding from existing investor National Investment and Infrastructure Fund last month. Entrackr has gone through its regulatory filings to decode round break up, shareholding pattern, and current valuation. The board at Ather Energy has passed a special resolution to issue 1,65,28,925 Series G compulsory cumulative preference shares at an issue price of Rs 363 each to raise Rs 600 crore or $72 million, its regulatory filing accessed from RoC shows. According to the data intelligence platform TheKredible, Hero MotoCorp remains the largest external stakeholder with 38.11% after this round, followed by Caladium Investment which holds 16.3%. NIIF, Tiger Global, and Zerodha brothers are other notable investors in Ather Energy. See TheKredible for the complete shareholding. The electric two-wheeler manufacturer was valued at $1.25 billion post-allotment, as per Fintrackrโ€™s estimates. Ather posted Rs 339 crore of revenue during the first quarter of the ongoing fiscal year with a net loss of Rs 183 crore in the same period, according to its internal document seen by Entrackr. In FY24, the firm reported a modest decline in its revenue which stood at Rs 1754 crore. Atherโ€™s rival Ola Electric, which went public last month, posted Rs 1,644 crore in revenue during the first quarter of the ongoing fiscal year, marking its net loss down by 17% to Rs 347 crore. According to Ather, its market share in the electric two-wheeler segment was 9% in the first quarter of FY25, down from 11% in FY24. Meanwhile, Ola Electricโ€™s market share increased to 42% in Q1 FY25, and TVS Electric secured the second position with a 19% share during the same period. Notably, Ola Electricโ€™s market share declined in the first two months of Q2 FY25 (July and August).

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