Ather Energy is poised to file its Draft Red Herring Prospectus (DRHP) for an INR 4,500 crore IPO, encompassing both a fresh issue and an offer for sale. As it targets a $2.5 billion valuation, this initiative comes shortly after Ather’s ascension to unicorn status and on the heels of Ola Electric’s substantial IPO, which gathered over INR 6,145.6 crore.
Since becoming a public entity in June and securing INR 600 crore from the National Investment and Infrastructure Fund at a $1.3 billion valuation, Ather has been actively expanding. Yet, like Ola Electric, Ather continues to navigate financial losses, raising investor concerns about its upcoming IPO’s stability and potential market impact, the news outlet the Start Up News reported.
