ATHER ATHER STARTUP company in India reduces the volume of public subscription to $ 308 million, and is seeking a post -money rating of $ 1.4 billion

Ather Energy, the Startup Lateup Electric company, has reduced the volume of its initial public offer by 18 % to 26.26 billion Indian rupees (308.3 million dollars), according to New bulletin project Tuesday.

The start -up starting start on Techcrunch is to target after the money of $ 1.4 billion. Last September, the startup company sought a rating between $ 1.5 billion and 2 billion dollars, Techcrunch said at the time.

Atheer was martyred in the market conditions to reduce the size and target of the general subscription.

The current shareholders at ATHER 11.1 million shares will sell, a decrease from 22 million shares mentioned in the draft newsletter last year. ATHER shares offer will be opened for three days starting from April 28; Investors are scheduled to participate in a special position on April 25.

Ather, Tarun Mehta and Swapnil Jain, in addition to the National Investment Fund (Niif) and the III Internet Fund of Tiger Global Management, according to the version project. However, the two -wheel -wheel -wheel -wheel -wheel -wheel -wheel -wheel -wheeled Hero Motoocorp, which has more than 40 % of startup, will not sell its shares.

Atheer said it would use 9.27 billion Indian rupees (108.8 million dollars) of net revenue to create a bilateral wheel electric facility in Maharashtra. Another 7.5 billion rupees (88 million dollars) will be invested in research and development and 3 billion rupees in marketing initiatives. The startup will also use 400 million Indian rupees ($ 4.7 million) to pay its loans.

The start of the start of a 21 % increase in sales in 2024, reaching 126,353 units, according to government data. The market share has led 10.7 % that year, according to the CRISIL report indicated in the issue project.

ATHER was founded in 2013, ATHER launched the first electrical wheels in 2018. Startup reported that it had achieved 15.79 billion Indian rupees (185.4 million dollars) as revenues in the expired nine months, with a net loss of 5.78 billion Indian rupees-less than 7.76 billion Indian rupees (91.1 million dollars) in the previous year.

ATHER OLA Electric Compete – which holds a 34.1 % market share last year – is listed on Indian stock exchanges last year. Ride He appeared for the first time with an increase of 20 %The biggest list by an Indian company in two years. However, the price of his share has since decreased by approximately 42 %, as it was closed at 53.02 Indian rupees on Tuesday.