CosmicTaco

Ather IPO: Founders, Tiger Global, Binny Bansal's 3 State Ventures to sell stake; Hero Motocorp to stay invested

CosmicTaco · 2024-09-09T19:14:37.759878+05:30

- Ather Energy is preparing for its IPO, with Hero MotoCorp retaining its shares while founders and investors plan to sell. - The IPO will include a fresh issue of shares worth Rs 3,100 crore and an offer for sale of up to 2.2 crore equity shares. - Founders Tarun Sanjay Mehta and Swapnil Babanlal Jain will offload around 1 million equity shares. - Major selling shareholders include GIC Ventures, 3 State Ventures, and Tiger Global. - Funds from the IPO will be used for a new manufacturing facility in Maharashtra and ongoing R&D efforts. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/ather-ipo-founders-tiger-global-binny-bansals-3-state-ventures-to-sell-stake-hero-motocorp-to-stay-invested-12817840.html)

Ather Energy is preparing for its IPO, with Hero MotoCorp retaining its shares while founders and investors plan to sell.
The IPO will include a fresh issue of shares worth Rs 3,100 crore and an offer for sale of up to 2.2 crore equity shares.
Founders Tarun Sanjay Mehta and Swapnil Babanlal Jain will offload around 1 million equity shares.
Major selling shareholders include GIC Ventures, 3 State Ventures, and Tiger Global.
Funds from the IPO will be used for a new manufacturing facility in Maharashtra and ongoing R&D efforts.

Source: Moneycontrol

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