Ather Opens QIP, Sets Floor Price Of ₹1,169.70 Per Share

Adding to a string of funding related disclosures today , Ather Energy has now opened a qualified institutional placement (QIP) to raise more capital. The company has set the floor price at ₹1,169.70 per equity share, a significant discount from today’s closing price of ₹1,298. The company may offer institutional investors a discount of up to 5% on the floor price, with the final issue price to be determined in consultation with the book-running lead managers.