India, April 23 -- EV major Ather Energy has set a price band of INR 304 to INR 321 per share for its initial public offering (IPO) that will open for subscription on April 28.

The anchor investor bidding will take place on April 25. The issue will close on April 30.

At the upper end of the price band, the company would be valued at about INR 11,955 Cr (about $1.4 Bn).

The company filed the red herring prospectus (RHP) with SEBI yesterday. Its IPO will comprise a fresh issue of equity shares aggregating up to INR 2,626 Cr and an offer for sale of up to 1.10 Cr shares. At the upper end of the price band, the size of the OFS will be INR 354.76 Cr.

Promoters Tarun Mehta and Swapnil Jain will be selling 9.80 Lakh equity shares each in the...