Ather Energy raises ₹1,300 cr in institutional placement at ₹1,202
Ather Energy just pulled off a big move, raising ₹1,300 crore by selling shares to institutional investors.
The deal wrapped up on July 20, with each share priced at ₹1,202 (a bit above the set floor price), even though it was slightly below the day's closing value.
This boost comes as Ather's stock has been climbing all year and investor excitement is clearly strong.
Market cap nears ₹50,000 cr
Major Indian mutual funds like HDFC, Aditya Birla Sun Life, and Axis grabbed sizable chunks of the new shares. The Abu Dhabi Investment Authority also joined in, though its stake stays under 1%.
With this round done, Ather's total equity share capital has grown, and its market cap is now flirting with ₹50,000 crore thanks to a 76% surge in share price this year.
Electric vehicles are definitely having a moment!