Ather Energy, which makes electric scooters, is hiring investment bankers to help it with its initial public offering (IPO) this year, according to people familiar with the matter.
The Bengaluru-based firm is planning to raise an estimated $400 million (Rs 3,300 crore) through the IPO. The company is targeting a valuation of about $2 billion, according to sources. Ather declined to comment on its IPO plans.
“The company has met the bankers,” said a person. “The firm also has plans to prepare and file the Draft Red Herring Prospectus (DRHP).”
