Ather Energy, a popular electric scooter maker based in Bengaluru, is gearing up for an Initial Public Offering (IPO) in the second half of 2024. The company is reportedly in talks with investment banks like HSBC, Nomura, JPMorgan, JM Financial, and Axis Bank to manage the public listing, which could value Ather at around $2 billion.
Ather aims to raise close to $400 million through the IPO, although the exact details like size and valuation might change before the finalization. This move comes after Ather successfully secured $128 million in funding last year, backed by investors like Hero MotoCorp, National Investment and Infrastructure Fund, Tiger Global, and Binny and Sachin Bansal.
Exicom Tele-System listing and gains
It’s interesting to note that this news follows the successful IPO of Exicom Tele-Systems, an electric vehicle charging solution provider, earlier today. Exicom’s listing saw a significant 86% jump in share price, highlighting the growing investor interest in the Indian electric vehicle (EV) sector.
Writer’s Remark
In a nutshell, Ather Energy’s potential IPO, coupled with the success of Exicom’s listing, paints a positive picture for the future of electric vehicles in India. It indicates a growing market potential and investor confidence in the sector.
It’s also worth mentioning that Ola Electric, another major player in the Indian EV space, is also reportedly planning an IPO later this year. This intense competition will likely lead to exciting developments and advancements in the Indian EV market in the coming years.
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