 "Ather Energy's IPO subscribed 28%; last day of issue on Wednesday")
The initial public offering (IPO) of Ather Energy was subscribed 28 per cent on Tuesday, the penultimate day of the issue. The institutional investor portion was largely unsubscribed, with just 7,636 shares bid against the 28 million shares on offer.
The wealthy investor or high net worth individual portion was subscribed 27 per cent, the retail investor portion was subscribed 1.1 times, and the portion reserved for the employees of the firm was subscribed 3.2 times.
Ather Energy, whose IPO began on April 28, raised Rs 1,340 crore from 36 anchor investors on Friday. Some of the marquee names who have been allotted shares include SBI MF, Franklin Templeton Global, Aditya Birla Sun Life MF, Abu Dhabi Investment Authority (ADIA), Eastspring Investments, ICICI Prudential MF, Invesco MF, among others.
The Rs 2,980 crore IPO of Ather Energy will conclude on Wednesday. The IPO comprises a fresh issue of Rs 2,626 crore and an offer for sale of Rs 355 crore—Ather's IPO is the first issue in Indian markets since Quality Power Electrical Equipments, which concluded in mid-February.
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