 "Ather Energy, Ather, EV scooter, electric scooter")
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India's Ather Energy has priced its shares in the range of ₹304 to ₹321 per share for its initial public offering (IPO), a newspaper advertisement from the electric scooter-maker showed on Wednesday.
The Tiger Global-backed company trimmed its IPO size on Tuesday to ₹2,626 crore ($308.3 million), down from its initial aim of raising ₹3,100 crore.
Existing shareholders will offload 11.1 million shares - around half the 22 million shares they planned to sell earlier.
Indian motorcycle maker Hero MotoCorp, the largest shareholder in Ather with a stake of around 40 per cent, maintained its stance that it will not sell its shares in the IPO.
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Bidding for Ather shares will be open for three days starting April 28, while anchor investors will participate in a private stock placement on April 25.
Ather was one of the first companies to sell e-scooters in India in 2018, but has fallen behind larger rivals Ola Electric and TVS Motor, whose discounts and larger distribution network have driven sales.
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 "IPO, Initial public offerings")
 "IPOs, stock market trading, ipo filing, IPO valuation")
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