Ather Energy likely to trim IPO size amid market volatility
Mumbai: Electric two-wheeler maker Ather Energy is expected to scale down the size of its upcoming initial public offering (IPO) to a range of ₹2,900 crore to ₹3,200 crore, CNBC-TV18 reported, citing sources familiar with the development.
This marks a reduction from the earlier estimated range of ₹3,500 crore to ₹3,700 crore.
The company is now targeting a post-money valuation of around ₹12,800 crore, lower than its initial goal of ₹14,000 crore.
The downsizing of the IPO is being attributed to uncertain market conditions and subdued investor sentiment, the report added.
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