Ather hiring investment banks for IPO this year, eyes raising Rs 3,300 cr

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).”