Ather's Board Shake-Up on Listing Day

• Niranjan Kumar Gupta, former Hero CEO and Ather's non-executive director, resigned on May 6, coinciding with Ather's listing.
• Ather hasn't announced Gupta's board replacement yet, but Hero's Ram Kuppuswamy remains on the board.
• Ather's IPO saw a lukewarm response, with shares dropping 12% intraday post-listing.
• Ather is the second EV firm to list publicly, founded in 2013, now facing stiff competition.
• Hero MotoCorp, a major Ather stakeholder and competitor, holds over 38% of the company.

Source: Inc42