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Ather Picks HSBC Holdings Plc, Others To Help It For IPO

Inc42 · 1y ago

Ather Picks HSBC Holdings Plc, Others To Help It For IPO

Ather Energy, an electric vehicle manufacturer, has reportedly chosen HSBC, Nomura, and JPMorgan as advisors for its upcoming initial public offering (IPO). The Bengaluru-based startup has also enlisted Axis Bank and JM Financial for its primary offering. Ather faced a 150% increase in net loss in FY23 to INR 864.5 crore despite sales growth. The company plans to launch new scooter models and has reduced the price of its 450S variant by INR 20,000 to improve sales. Ather's competitor Ola Electric is also rumored to be planning an IPO and recently received a PLI license for its S1 Pro scooter.

Related News

Exclusive: Ather Energy Converts Into A Public Entity As IPO Plans Gather Steam

Inc42 · 1y ago

Exclusive: Ather Energy Converts Into A Public Entity As IPO Plans Gather Steam

Ather Energy, the electric vehicle startup, has announced its decision to convert from a private company to a public company. The company has renamed itself Ather Energy Ltd from Ather Energy Pvt Ltd. It is now focused on preparing for its Initial Public Offering (IPO) which is expected to take place in the second half of this year. Ather Energy has reportedly hired HSBC Holdings, Nomura Holdings, and JP Morgan Chase & Co to assist with its IPO.

Ather Energy picks JPMorgan, Nomura, HSBC, Indian banks for its $2 billion IPO: Report

IndianStartupNews

IndianStartupNews · 1y ago

Ather Energy picks JPMorgan, Nomura, HSBC, Indian banks for its $2 billion IPO: Report

Indian electric scooter manufacturer Ather Energy has selected HSBC, Nomura, and JPMorgan to lead its upcoming IPO. The company has also brought on JM Financial and Axis Bank for its market debut, aiming for a valuation of around $2bn. The IPO is expected in the latter half of 2024, subject to market conditions. Ather Energy plans to raise $400m through the share sale, with details on the IPO's size and valuation still being finalised. The start-up, founded in 2013, is known for its premium electric scooters and has received backing from Hero MotoCorp and GIC, among others.

Ather Energy Gets Buy Rating as Analysts See Up to 30% Upside – Outlook Business

OutlookIndia

OutlookIndia · 1m ago

Ather Energy Gets Buy Rating as Analysts See Up to 30% Upside – Outlook Business

Ather Energy's shares increased by over 3% after HSBC and Nomura gave it a 'Buy' rating. HSBC set a target price of ₹450, projecting a 30% upside based on the company's strong product differentiation and technology leadership. Nomura anticipates gross margin growth as Ather capitalizes on electrification and premium electric two-wheelers. The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Ather to provide opportunities for start-ups in the EV and manufacturing space.

Canara HSBC Life Insurance Company files for IPO

VCCircle

VCCircle · 4m ago

Canara HSBC Life Insurance Company files for IPO

Canara HSBC Life Insurance Company, a joint venture between Canara Bank and HSBC Insurance (Asia Pacific) Holdings, has filed for an initial public offering (IPO). Existing shareholders, including Canara Bank, HSBC, and Punjab National Bank, plan to sell their stakes. The company manages assets worth over 400 billion rupees and reported a profit increase of 24.3% to 1.13 billion rupees for the fiscal year ending March 2024. The IPO’s timing and size remain undisclosed.

Ather Energy cuts IPO fresh issue size to Rs 2,626 crore

Economic Times

Economic Times · 4m ago

Ather Energy cuts IPO fresh issue size to Rs 2,626 crore

Ather Energy plans to raise Rs 2,626 crore in its upcoming IPO by reducing the fresh issue size from Rs 3,100 crore. The offering includes an offer for sale by existing investors and promoters. The funds will be used for setting up a factory, R&D, and marketing. The IPO is set to open on April 28. Axis Capital, HSBC Securities, JM Financial, and Nomura are lead managers for the offer.

Hero MotoCorp-backed Ather Energy may launch its IPO by mid-April

Business Today

Business Today · 5m ago

Hero MotoCorp-backed Ather Energy may launch its IPO by mid-April

Ather Energy, supported by Hero MotoCorp, plans to launch its IPO in mid-April, featuring a fresh share sale of Rs 3,100 crore and an offer for sale (OFS) of up to 2.2 crore equity shares. Valued at Rs 14,000-15,000 crore, the IPO is managed by Axis Capital, HSBC, JM Financial, and Nomura, and will list on BSE and NSE. Funds raised will support capex, debt repayment, and corporate needs.

TVS Holdings, 2 Others Get CCI's Clearance to Acquire Stakes in Home Credit India Fin

OutlookIndia

OutlookIndia · 3m ago

TVS Holdings, 2 Others Get CCI's Clearance to Acquire Stakes in Home Credit India Fin

The Competition Commission of India (CCI) has greenlit the acquisition of Home Credit India Finance by TVS Holdings, STPL, Premji Invest Group, and others. This deal involves purchasing 100% of Home Credit's shares, with TVS Holdings acquiring 80.74%, STPL 8.47%, and PI Opportunities Fund-II 10.79%. The transaction will help TVS Holdings expand its financial services and customer base across India, while Premji Invest and others will acquire the remaining 19.26% stake.

Meet Pam Kaur: HSBC Holdings’ first female CFO in its 160-year history

Livemint

Livemint · 10m ago

Meet Pam Kaur: HSBC Holdings’ first female CFO in its 160-year history

HSBC Holdings has appointed Pam Kaur as its first female CFO, making her the new chief financial officer of the company. Kaur, who was previously the chief risk and compliance officer at HSBC, joined the bank in 2013. According to the company's CEO, Kaur was the exceptional candidate for the role. HSBC also announced plans to streamline its operations into four distinct businesses from January 2025, focusing on its strategic priorities. The move comes as HSBC aims to reduce duplicate roles and concentrate on its operations in Asia and other scale markets.

Ola Electric's recent market share loss a cause of worry, says HSBC

Money Control

Money Control · 11m ago

Ola Electric's recent market share loss a cause of worry, says HSBC

HSBC, the brokerage firm, has expressed concerns about Ola Electric Mobility losing market share. Ola Electric recorded its lowest monthly sales in August, resulting in a decline in market share from 49% to 31%. HSBC attributes this loss to the increased availability of low-cost variants from rival companies. Despite this setback, HSBC remains optimistic about Ola's prospects and has retained its 'buy' call on the stock. Ola Electric's share price has experienced fluctuations since its IPO, but it is still up almost 50% from its IPO price of Rs 76.

Electric scooter maker Ather Energy receives Sebi nod for IPO

Economic Times

Economic Times · 8m ago

Electric scooter maker Ather Energy receives Sebi nod for IPO

Ather Energy, a Bengaluru-based electric scooter maker, has received approval from India's SEBI to launch an IPO, making it the second Indian EV manufacturer to go public after Ola Electric. The IPO includes a fresh issue of shares worth Rs 3,100 crore and an offer for sale from existing shareholders. Despite financial challenges, including widened losses, Ather plans to use the proceeds for capital expenditure, R&D, debt repayment, marketing, and general corporate purposes.

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