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

EntrackrEntrackr · 7m 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. Ather’s co-founders, Mehta and Jain, each hold 6.81%. According to Entrackr’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.

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Groww raises Rs 2,984 Cr from anchor investors ahead of IPO

EntrackrEntrackr · 26d ago
Groww raises Rs 2,984 Cr from anchor investors ahead of IPO
Medial

News All Stories Groww raises Rs 2,984 Cr from anchor investors ahead of IPO Investment platform Groww, operated by Billionbrains Garage Ventures Ltd, has raised Rs 2,984.5 crore from anchor investors ahead of its initial public offering (IPO). Investment platform Groww, operated by Billionbrains Garage Ventures Ltd, has raised Rs 2,984.5 crore from anchor investors ahead of its initial public offering (IPO). The company’s IPO committee approved the allocation of 29.85 crore shares at Rs 100 per share, comprising a face value of Rs 2 and a premium of Rs 98, as per the company’s regulatory filing accessed from the stock exchange. According to the company’s filing, Groww attracted participation from a strong line-up of marquee investors, including HDFC Mutual Fund, Kotak Mutual Fund, SBI Mutual Fund, Nippon India, Axis Mutual Fund, and Aditya Birla Sun Life, among others. Global institutions such as the Government of Singapore, Monetary Authority of Singapore, Abu Dhabi Investment Authority, Goldman Sachs, New York State Teachers Retirement System, and Norway’s Government Pension Fund Global also came on board. Out of the total anchor allotment, around 46.6% (Rs 1,389.8 crore) was allocated to 17 domestic mutual funds spread across 54 schemes. The anchor allotment for Groww’s IPO will open for public subscription today and will close on November 7. The company has set a price band of Rs 95–100 per share. Backed by Peak XV Partners, Tiger Global, Ribbit Capital, and ICONIQ Growth, Groww’s public issue will include a fresh issue of shares worth Rs 1,060 crore and an offer for sale (OFS) of Rs 5,572.3 crore at the upper price band of Rs 100 per share, with early major investors participating in the OFS. According to Entrackr’s recent report, existing investors in Groww are set to pocket massive gains through the partial offer for sale. Kauffman Fellows Fund will clock an impressive 196X return, while Nirman Ventures and Y Combinator will reap 126.6X and 29X returns, respectively. Major backers such as Peak XV Partners, Tiger Global, and Ribbit Capital are also expected to book substantial profits from the IPO. The Bengaluru-based firm’s operating revenue surged nearly 50% year-on-year to Rs 3,902 crore in FY25, while its profit soared to Rs 1,824 crore during the same period. However, in Q1 FY26, Groww’s revenue declined nearly 10% YoY to Rs 904.4 crore, with the company posting a profit of Rs 378.36 crore.

Exclusive: IPO-bound Ather Energy raises Rs 60 Cr debt

EntrackrEntrackr · 1y ago
Exclusive: IPO-bound Ather Energy raises Rs 60 Cr debt
Medial

Ather Energy has continued to raise debt funding before its potential public listing. The Bengaluru-based company has raised Rs 60 crore (over $7 million) in debt from Stride Ventures through its trustee Vistra ITCL. This is the second debt infusion in the electric scooter manufacturer in the past two months. Stride Ventures invested Rs 200 crore via debentures in May. Entrackr had exclusively reported the fundraise which also had equity investment from co-founders. While Ather IPO timeline is yet to be known, it took a definitive step towards public listing by converting itself into a public company in June. Ather has raised around $450 million to date from the likes of Tiger Global and Hero MotoCorp. As per the startup data intelligence platform TheKredible, Hero Moto Corp is an associate company of Ather and controls around 38% stake. Following a four-fold growth during FY23, Ather’s revenue from operations decreased slightly to Rs 1,754 crore in FY24 from Rs 1,781 crore in FY23, as per disclosure made by Hero Moto Corp. The sale of scooters was the primary source of revenue for Ather while after-sale and subscription services were other income channels. Ather maintained its position as the fourth largest two-wheeler EV manufacturer with 6,097 units sold in June 2024 and a market share of 7.66%, according to Vahan data. Its arch rival Ola Electric stayed on top with sales of 36,716 units, controlling a market share of 44%. The company recently said that it will set up its third manufacturing plant in Maharashtra with an investment of Rs 2,000 crore. The new facility will produce electric two-wheelers as well as battery packs.

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