Indian electric two wheeler-maker Ather Energy files for IPO
Removes incorrect IPO size from headline
BENGALURU, Sept 9 (Reuters) -Indian electric two wheeler-maker Ather Energy has filed for an IPO consisting of a fresh issue of shares worth 31 billion rupees ($369.4 million), it said in a draft filing on Monday.
Backed by Indian bike-maker Hero MotoCorp HROM.NS, Ather makes electric scooters and competes with recently-listed Ola Electric OLAE.NS.
Investors and some top shareholders will sell up to 22 million shares in the IPO.
Proceeds will be used for capital expenditure to establish an electric two-wheeler factory in India's Maharashtra state, and for research and development, Ather said.
The book-running lead managers for the issue include Axis Capital and JM Financial.
($1 = 83.9160 Indian rupees)
Reporting by Varun Hebbalalu in Bengaluru
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