Upcoming IPO: The size of the IPO between Ather Energy is expected to reduce 2,900 crores and 3,200 crore, initial target below boundary 3,500 million 3,700 crores, CNBC-TV18 in its news report said citing its sources.
Electric two-wheeler manufacturer is now targeting for almost almost money valuation 12,800 crores, which is less than the previous target 14,000 crores. CNBC-TV18 said in its report that this decrease in the size of the issue is responsible for unstable market conditions and lack of investor enthusiasm.
