- summary:
- Investors exercise cautious optimism at the price of ATHER ENERIGY, as the price of gray market (GMP) indicates a basic weakness.
The ATHER Energy IPO menu will take place on May 6 after the assignment is confirmed on May 2. The period of submitting the subscription bids was open between April 28-30, with a participation in the retail trade 1.78 times and an institutional subscription in 1.70 times. The ATHER ENERIGY share price was 2 % over the public subscription price. The price of the public subscription was between 304 rupees and 321 rupees, in the gray market, indicating a possible price of 328 rupees.
The company’s public subscription raised the company’s SCOOOTER Maker company 352 million dollars in the public offering, as the qualified founders received 54 % of allocated shares, with offers of 15.6 billion rupees. On the other hand, retail investors were 5.31 billion rupees. A large part of the public subscription boxes, equivalent to about $ 111 million, will go to the creation of a new manufacturing factory in Maharashtra.
Mixed expectations for ATHER ENERGY
India is moving towards green energy, as it expects 50 % of the energy needs will come from renewable sources by 2030. This provides a large market for bilateral steam bikes in ATHER ENERGY. The public subscription has attracted public subscription offers from the enormous institutions, including the Tamasek and Abu Dhabi Investment Authority, and it is proud of the presence of Hero Motorcorp as one of its largest shareholders.
See too
Some analysts have interpreted the relatively amazing performance of ATHER Energy IPO and the marginal gray market bonus (GMP) as a sign of a weak appearance in the stock market. In addition, the company has been profitable since operations began twelve years ago, which made a weak proposal. It is worth noting that although he is a pioneer in the industry of EV, ATHER was outperformed by new relative arrivals such as Bajaj, Ola Electric and TVs.
However, the newly collected money, some of which will go to the settlement of debt, marketing, research and development can pump the new momentum in the company and help it build traction. However, the performance near the price of ATHER ENERGY shares can be affected negatively through the current geopolitical tension between India and Pakistan caused by the Kashmir attacks.
