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SUMMARY
Ather Energy’s INR 2,981 Cr IPO received bids for 5.66 Cr shares as against 5.33 Cr shares on offer, resulting in a 1.08X subscription
The issue saw decent interest from QIBs, who subscribed to the issue over 1.28 times on the final day of the bidding process
Of the total IPO proceeds, Ather has earmarked INR 927 Cr to set up E2W manufacturing factory in Maharashtra with an estimated annual production capacity of 1 Mn EV units
Electric two-wheeler maker Ather Energy’s…
