Shardul Amarchand Mangaldas & Co. (SAM) acted as legal counsel to Ather Energy Limited, one of India’s leading electric two-wheeler (E2W) manufacturers, in connection with its Qualified Institutions Placement (QIP) aggregating ₹1,300 crore (approximately USD 134 million)
The QIP witnessed robust investor interest, being oversubscribed by more than eight times. The issue was priced at a 2.76% premium to the floor price determined in accordance with applicable law and saw participation from marquee institutional investors, including ADIA and affiliates of mutual funds and insurance companies such as ICICI Prudential Life Insurance, HDFC Life Insurance, LIC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund and HSBC Mutual Fund, among others.
The SAM transaction team comprised of Prashant Gupta, National Practice Head — Capital Markets, Ruth Chenchiah, Partner, Rishika Sharma, Senior Associate, and Aditya Krishnan, Associate.
