(Reuters) -Indian e-scooter maker Ather Energy set a target price for its initial public offering (IPO) on Wednesday, according to a newspaper advertisement, valuing the company at up to $1.40 billion,

Ather Energy IPO price band is set at ₹304 to ₹321, with subscription dates from April 28 to April 30. The company aims to raise ₹2,626 crore for manufacturing and R&D, with shares expected to be listed on May 6.

The IPO will be a combination of fresh issue of equity shares worth Rs 2,626 crore, and an Offer-For-Sale (OFS) of 1.1 crore equity shares by promoters and other shareholders