Ather Energy files IPO papers with Sebi; eyes Rs 3,100 crore via fresh issue

Ather Energy has filed initial documents with Sebi to raise funds via an IPO. The offering includes a fresh issue worth Rs 3,100 crore and an Offer For Sale of 2.2 crore shares by promoters and investors. Proceeds will be used for setting up a factory in Maharashtra, R&D, marketing initiatives, loan repayment, and general corporate purposes.