Ather's $450 mn IPO: The next big spark in India's electric revolution

The move to go for an IPO is well timed as it comes on the heels of a successful debut in the stock market by its start up rival Ola Electric just few days ago when it raised Rs 5500 crore

Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million.

On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 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