India, March 11 -- Electric two-wheeler manufacturer Ather Energy is reportedly eyeing a valuation of $1.6 Bn for its much-awaited initial public offering (IPO).

According to a report by Bloomberg, the startup is eyeing a public listing within this month or April. A separate report by NDTV Profit said that the company is likely to file its updated draft red herring prospectus (DRHP) by next week.

Ather declined to comment on Inc42's queries on the development.

This adds on to recent developments at Ather that indicate that the company is in the final stages of preparations to launch its public offering. A couple of days ago, it was reported that the unicorn converted its outstanding compulsory convertible preference shares (CCPS) into ...