Ather Energy IPO day 2 update: subscription lags at 16%, GMP at ₹ 1

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Ather Energy IPO day 2 update: subscription lags at 16%, GMP at ₹ 1 - Business Standard

Quick Summary:

Retail investors subscribed their category reserved to them by 63 per cent, Non-Institutional Investors (NIIs) 16 per cent, and Qualified Institutional Buyers (QIBs) has only placed the bids for 5,060 against 2,89,27,363 reserved for them.

At the upper price band, a retail investor will require a minimum of ₹14,766 to bid for one lot of 46 shares, and ₹1,91,958 to bid for a maximum of 13 lots or 598 shares.Wait is over! IPO Alert!

Deven Choksey Research, on the other hand, has recommended the investors to avoid the public offering and said that it can be bought at an attractive valuation in the secondary market.