Ather IPO: Founders, Tiger Global, Binny Bansal's 3 State Ventures to sell stake; Hero Motocorp to stay invested

• Ather Energy is preparing for its IPO, with Hero MotoCorp retaining its shares while founders and investors plan to sell.
• The IPO will include a fresh issue of shares worth Rs 3,100 crore and an offer for sale of up to 2.2 crore equity shares.
• Founders Tarun Sanjay Mehta and Swapnil Babanlal Jain will offload around 1 million equity shares.
• Major selling shareholders include GIC Ventures, 3 State Ventures, and Tiger Global.
• Funds from the IPO will be used for a new manufacturing facility in Maharashtra and ongoing R&D efforts.

Source: Moneycontrol