IIT Madras To Make 40X Gains, Tiger Global To Rake In 8.3X Returns

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EV major Ather Energy’s cofounders Tarun Mehta and Swapnil Jain are set to rake in 15.2X returns each by selling a portion of their shares in the company as part of offer for sale (OFS) during its IPO.

Cofounders Mehta and Jain held 2.05 Cr shares each in the company ahead of the IPO. The duo will offload 9.8 Lakh shares each in the OFS. They acquired these shares for INR 2.1 Cr each and will offload them for INR 31.4 Cr each at the upper end of the IPO price band of INR 314 to INR 321, translating to 15.2X returns on their initial…



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IIT Madras To Make 40X Gains, Tiger Global To Rake In 8.3X Returns


EV major Ather Energy’s cofounders Tarun Mehta and Swapnil Jain are set to rake in 15.2X returns each by selling a portion of their shares in the company as part of offer for sale (OFS) during its IPO.

Cofounders Mehta and Jain held 2.05 Cr shares each in the company ahead of the IPO. The duo will offload 9.8 Lakh shares each in the OFS. They acquired these shares for INR 2.1 Cr each and will offload them for INR 31.4 Cr each at the upper end of the IPO price band of INR 314 to INR 321, translating to 15.2X returns on their initial…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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