Shardul Amarchand Mangaldas (SAM) and Trilegal advised on Ather Energy’s INR 1,300 crore Qualified Institutions Placement.

Ather Energy Limited, one of India’s leading electric two-wheeler manufacturers, completed a Qualified Institutions Placement (QIP) aggregating INR 1,300 crore through the allotment of 10,815,307 equity shares at an issue price of INR 1,202 per share, including a premium of INR 1,201 per share, to eligible Qualified Institutional Buyers.

The QIP witnessed strong investor demand, with the issue being oversubscribed by more than eight times and attracting marquee global and domestic institutional investors, including the Abu Dhabi Investment Authority (ADIA), as well as affiliates of ICICI Prudential Life Insurance, HDFC Life Insurance, LIC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, and HSBC Mutual Fund.

SAM advised Ather Energy Limited on the transaction.

The team was led by National Practice Head – Capital Markets Prashant Gupta and Partner Ruth Chenchiah, with support from Senior Associate Rishika Sharma and Associate Aditya Krishnan.

Trilegal advised the lead managers—HSBC Securities and Capital Markets (India) Private Limited, Axis Capital Limited, Nomura Financial Advisory and Securities (India) Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Kotak Mahindra Capital Company Limited, Ambit Private Limited, Avendus Capital Private Limited, BNP Paribas, CLSA India Private Limited, Emkay Global Financial Services Limited, and Motilal Oswal Investment Advisors Limited on the QIP.

The Trilegal team was led by Partner Vijay Parthasarathi and comprised Counsel Saurav Das, Senior Associates Vedansh Batwara and Prajna Kariappa, Associates Jasmine Manekshaw and Vansh Dhoka, and Trainee Associate Pratik Basistha.