SUMMARY
The Bengaluru-based electric scooter maker has been reported to have also selected Axis Bank and JM Financial for the first-time share sale
Ather reported a 150% surge in its net loss in FY23 to INR 864.5 Cr as against a loss of INR 344.1 Cr in FY22, despite a strong growth in its sales
This comes at a time when Ather’s competitor Ola Electric is also being speculated to plan for the IPO
Electric mobility startup Ather Energy has reportedly picked HSBC Holdings Plc, Nomura Holdings Inc. and JPMorgan Chase & Co to help it for its initial public offering (IPO).
The electric vehicle manufacturer has also selected two domestic players- Axis Bank and JM Financial – for its primary offering. An IPO could take place as soon as the second half of the year in Mumbai, depending on market conditions, Bloomberg reported, citing people close to the matter.
They further said that more banks could be added.
Ather has been selecting banks for a listing that could value it at about…