The IPO was slightly oversubscribed, signaling renewed enthusiasm among investors after a subdued period in India’s equity market.
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00:00I'm going to move on to the next update with India's IPO's largest IPOs.
00:05We can say about that India's IPO engine is arriving once again with electric scooter startup Arthur Energy set to debut on the country's public markets after launching a $352 million initial public offering, the largest in India in several months.
00:22According to a report by Nikkei Asia, the IPO was slightly oversubscribed, signalling renewed enthusiasm among investors after a subdue period in India's equity market.
00:35And backing for the offering game not only from retail participants but also prominent institutional investors including Tamasic Holdings and the Abu Dhabi Investment Authority, ADIA.
00:46A tower headquarter in Bengaluru is widely regarded as a trailblazer in India's electric mobility scene.
00:55It currently ranks as the fourth largest electric scooter seller in the country competing in a fast-growing market driven by climate goals, rising fuel costs and government incentive for EV adoption.
01:10The company's public debut is seen as a bellwether for India's broader IPO pipeline.
01:15India was one of the hottest IPO markets globally in 2023.
01:19The pace of new listings had cooled in recent months.