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

EntrackrEntrackr · 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. 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.

Tiger Global to make 8.3X return on Ather offer for sale

EntrackrEntrackr · 2m ago
Tiger Global to make 8.3X return on Ather offer for sale
Medial

Tiger Global to make 8.3X return on Ather offer for sale As part of the offer for sale, Tiger Global will offload 4,00,000 equity shares, acquired at an average cost of Rs 38.58 per share, yielding a return of 8.3 times its investment. Electric two-wheeler manufacturer Ather Energy has fixed a price band of Rs 304–Rs 321 per share for its upcoming initial public offering (IPO), which will be open for subscription from April 28 to April 30. According to the RHP, Ather Energy's total issue size is pegged at Rs 2,980.7 crore, comprising a fresh issue of Rs 2,626 crore and an offer for sale amounting to Rs 354.76 crore. Investors can apply for at least one lot, comprising 46 shares, requiring an investment of at least Rs 13,984. As a book-building issue, 75% of the offer is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors, the RHP further added. Similarly, Caladium Investment is poised to earn a 57% return, while National Investment and Infrastructure Fund II will clock a 74% return on its investment through the OFS. According to the RHP, 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.

Zomato receives shareholders' nod for new ESOP plan worth $458 Mn

EntrackrEntrackr · 1y ago
Zomato receives shareholders' nod for new ESOP plan worth $458 Mn
Medial

Food tech major Zomato has introduced a new ESOP plan worth $458 million for its employees. The board at Zomato has got the shareholder nod to grant 18,26,27,402 ESOP options under its new plan, bringing the total ESOP pool to 31,07,80,714 options, its regulatory filing accessed through the National Stock Exchange shows. As per Fintrackr’s estimates, the newly added ESOPs are worth Rs 3,800 crore or $458 million while the value of the total ESOP pool stands at Rs 6,609 crore or $796 million. Following the ESOP approval, Zomato also touched its all-time high share price of Rs 209.84 today. With this, the total market cap of the company has increased to Rs 1,84,060 crore or $22.17 billion. According to a separate disclosure, Zomtao has voluntarily withdrawn the application with the Reserve Bank of India for a certificate of registration for undertaking the business of an NBFC as the company does not intend to pursue the lending/ credit business anymore. Earlier this week, Zomato company received a GST demand notice of Rs 9.5 crore. This is the second GST notice for the Gurugram-based firm, following a penalty notice of Rs 184 crore in April this year. The company has shown robust growth in FY24. Zomato’s revenue from operations surged 71% year-on-year to Rs 12,114 crore in FY24 from Rs 7,079 crore in FY22. Moreover, the profits of the company stood at Rs 351 crore in FY24 as compared to a loss of Rs 971 crore in FY23.

GlobalBees raises $18 Mn in debt from Avendus

EntrackrEntrackr · 1y ago
GlobalBees raises $18 Mn in debt from Avendus
Medial

E-commerce roll-up firm GlobalBees has raised Rs 150 crore or $18 million in a debt round from Avendus. This is the third debt round for the Delhi-based firm since its inception in 2021. The board at GlobalBees has passed a special resolution to issue 1,500 non-convertible debentures at an issue price of Rs 10,00,000 each to raise Rs 150 crore or $18 million, its regulatory filing sourced from the Registrar of Companies shows. The company will use these proceeds towards the working capital requirements and to meet general corporate expenses, the filings added. The non-convertible debentures have an annual coupon rate of 14.5%. Roll-up startups like GlobalBees partner with online-first entrepreneurs, scaling D2C businesses globally and in India. They focus on brands with $1-20 million in revenue, offering capital and support in marketing, supply chain, R&D, and operations. GlobalBees had raised over $270 million to date including its $111 million Series B round which made it a unicorn in December 2021. The company was last valued at around $1.12 billion. Notably, Series A and Series B also had debt components of $75 million and $30 million respectively. According to the startup data intelligence platform TheKredible, FirstCry along with Supam Maheshwari holds 55.6% in GlobalBees while Chimetech Holding, Premji Invest, and Lightspeed command 12.8%, 6.95%, and 6.57% respectively. During the fiscal year ending March 2023, its standalone revenue from operations surged 3.4X to Rs 65 crore whereas the company’s losses spiked two-fold to Rs 6 crore in the same period. GlobalBees competes with the likes of Mensa Brands, GOAT Brand Labs, Evenflow, Upscalio and Powerhouse91. Mensa Brands posted a revenue of Rs 1,317 crore with a loss of Rs 329 crore in FY23. Upscalio recorded a revenue and loss of Rs 216 crore and 78 crore loss respectively in FY23. Mensa also raised $76 million in debt across two tranches in 2023.

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