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The Economic Times

Ather Energy raises Rs 1,300 crore via QIP, allots shares at Rs 1,202 apiece

Ather Tarun Mehta ET Hero MotoCorp IPO Maharashtra

Electric two-wheeler maker Ather Energy Limited has closed a qualified institutional placement (QIP), raising approximately Rs 1,300 crore by allotting 1,08,15,307 equity shares to eligible institutional buyers at Rs 1,202 per share, the company said in a stock exchange filing on Monday.

The issue price includes a premium of Rs 1,201 over the shares' face value of Rs 1 and is above the floor price of Rs 1,169.70 fixed earlier under Sebi’s capital-raising norms, the company said.

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One subscription that gives you access to news from hundreds of sites

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