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
Volvo Plans 13 New Models by 2030 in Largest Product Expansion in Company History
The Swedish automaker will split its line-up between Western and Chinese markets, offer both electric and hybrid powertr...
Kolkata Police Adds 183 Ultraviolette Electric Motorcycles to Its Fleet
The Kolkata Police has taken delivery of 183 units of the Ultraviolette X-47 Skyforce, a dedicated law-enforcement varia...
Mahindra Last Mile Mobility Named Finalist for 2026 Earthshot Prize
The Indian electric vehicle manufacturer is the only automotive company among 15 global finalists, with Mumbai set to ho...


05 Mar 2024
Angitha Suresh
