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.

Autocar Professional BureauBy Autocar Professional Bureau calendar 05 Mar 2024 Views icon4279 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Ather shortlists HSBC, JPMorgan, Nomura, Indian banks for listing: Report 

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
Exclusive: Toyota readies India product blitz as growth shifts from alliances to own platforms

auther Ketan Thakkar calendar04 Apr 2026

The automaker plans multiple new models, including the next-generation Innova HyCross, a C-segment SUV, updated Fortuner...

India’s CV Growth to Cool to Mid-Single Digits After 10-11% Surge in FY26: Crisil

auther Shahkar Abidi calendar04 Apr 2026

After a GST-driven 10–11% surge in FY26, India's commercial vehicle industry braces for moderate mid-single-digit growth...

Why Truck Financing Refuses to be Rushed

auther Shahkar Abidi calendar04 Apr 2026

NBFCs controlling 64% of commercial vehicle financing resist instant-approval pressure, targeting same-day turnarounds a...