GMP has dropped before the subscription of Ather Energy IPO is opened

New -Delhi, April 27 (IANS). The opening of the subscription of Ather Energy’s Initial Public Offer (IPO) had a major decline in its Gray Market Premium (GMP). According to InvestorGandotcom, Athther Energy GMP is currently around Rs 3, which is just 0.93 percent more than the issue price. The GMP was about Rs 17 at the time of the Athther Energy’s announcement on April 22, which has now fallen to a single edition. Electric TWHEELEER COMPANY has set a price tire of Rs 304-321 per share for its IPO. Investors will have to apply for at least 46 shares. Ather Energy IPO has a new issue of 8.18 Crore shares, which has a value of Rs 2.626 crore. At the same time, the offer of sale (OFS) of 1.1 crore shares. The size of this entire issue is Rs 2.981 crore. In this IPO, promoters Tarun Sanjay Mehta, Swapnil Babanlal Jain and other corporate shareholders will sell part of their interests below or’s. According to Ather Energy, the amount collected by an IPO will be used to build a new electrical two -wheel manufacturing plant in Maharashtra and to reduce its existing debt. If the price price is set at the top of the group, the evaluation of the company is about Rs 11.956 crore. The company planned to award Rs 750 crore from the amount received from the IPO for Research and Development (R&D). However, Ather acknowledged that there is no certainty that this investment would get successful results. Ather’s business is mainly concentrated in South India. According to the company’s Red Herring prospects (RHP), Ather Energy runs in losses. In the financial year 2023-24, Ather Energy recorded a tax defense of Rs 1.059.7 crore, which was Rs 864.5 crore in FY 23 and Rs 344.1 crore. The revenue of the company in FY 24 was Rs 1,753.8 crore, which was also less than Rs 1,780.9 crore. Competition in the Indian car market, which can place the price capacity and also lower the profit margin. -Ians abs/