Ather shortlists HSBC, JPMorgan, Nomura, Indian banks for listing: Report
Ather has been shortlisting banks for an IPO that could value the company at roughly $2 billion.
Electric scooter maker Ather Energy has shortlisted HSBC, Nomura and JPMorgan to assist with its listing, sources in the know told Bloomberg.
The Bengaluru-based firm has also zeroed in on banks, JM Financial, Axis Bank, for its initial public offering, the newswire reported, citing people who spoke on condition of anonymity.
A listing could take place no later than the second half of this year, in Mumbai, based on market conditions, sources told Bloomberg, adding that the list could include additional banks.
Spokespersons for the five banks as well as the Bengaluru-based two-wheeler maker, refused to offer comments to the newswire.
Ather has been shortlisting banks for an IPO that could value the company at roughly $2 billion, Bloomberg News had noted in February. The firm aims to rake in nearly $400 million in the share sale, but the contours of the transaction such as the size and value are subject to change, Bloomberg noted.
Hero MotoCorp-backed Ather raised roughly $128 million in Series E last year, from current investors and the National Investment and Infrastructure Fund, Tiger Global and Binny and Sachin Bansal.
RELATED ARTICLES
Mahindra Reveals Scorpio Lifestyler Pickup
Production version of Global Pik Up concept to launch in India by April 2027 and expand across international markets.
Ashok Leyland Targets ₹2,000-Crore Cost Reduction as Commodity Pressure Builds
Commercial vehicle maker sets up dedicated team to reduce costs over the next 18-24 months.
Mahindra Starts Work on Electric Trucks, First EV Bus Due in FY27
The automaker has started initial work on electric trucks while SML Mahindra prepares its first electric bus for launch ...


05 Mar 2024
4411 Views
Autocar Professional Bureau
