On Tuesday, the fourthlargest electric two-wheeler maker in the country by volume raised ₹600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion. The move to go for an IPO is well-timed, as it comes on the heels of a successful stock market debut by its startup rival, Ola Electric, which raised 5,500 crore. Its offering was oversubscribed by more than four times. A spokesperson for Ather Energy declined to comment.
While the stock opened on the bourses on August 9, close to the issue price of 76 (at 75.99), it has shot up, hitting the upper circuit regularly in the past few days, closing on Tuesday at ₹108.
Denne historien er fra August 14, 2024-utgaven av Business Standard.
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Denne historien er fra August 14, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Low valuation sparks interest in IndusInd
Analysts believe worst may be over for lender after sombre Q2 results
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Agrochemicals manufacturer UPL reported a muted quarter as operating profit remained flat on a year-on-year (Y-o-Y) basis, due to a price decline (down 7 percent Y-o-Y) and surplus capacity in China.
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Sebi simplifies process for registration of certain FPIs
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As many as 11 of 17 frontline Nifty sector indices are in 'correction' mode with energy, auto and central public sector enterprises (CPSE), consumption, and fast-moving consumer goods (FMCG) suffering the most in the recent market fall, according to data.
Nifty falls to near 5-month low
Earnings disappointment and foreign outflows continue to weigh on markets
BITING THE BULLET
The Bullet Train has been a 'dream project'. Can it become a reality anytime soon?
India to be among top 3 or 4 mkts for Siemens in 3 years
Country now contributes 3.5-4% to the firm's revenue
