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
Renault Brings Back Iconic Duster SUV with Strong Hybrid, Turbo Engine
The price will be revealed in March, with deliveries of the turbo variant starting in April, followed by the strong hybr...
India Plans Sharp Cut in Car Import Tariffs to 40% Under Proposed EU Trade Pact: Reuters
According to Reuters, the Indian government has agreed to immediately reduce duties on a limited number of EU-built cars...
Weekly News Wrap: Truck Makers go Aggressive; Toyota, Skoda Expand Portfolios
Product launches dominated the week, with new trucks from Tata Motors and Ashok Leyland and fresh action in the SUV segm...




By Autocar Professional Bureau
05 Mar 2024
4173 Views
Kiran Murali
