B2C Ather Energy Eyes INR 3,100 Cr IPO to Propel Electric Vehicle Growth
B2C Ather Energy's IPO Submission
Electric two-wheeler manufacturer Ather Energy has officially filed its draft red herring prospectus (DRHP) with the capital markets regulator SEBI. The company is aiming to secure more than INR 3,100 Cr via a fresh equity share issue. The IPO will consist of a fresh issue of equity and an offer-for-sale (OFS) of up to 2.2 Cr shares, priced at INR 1 each.
Funding Plans and Production Goals
- Targeting INR 620 Cr through pre-IPO placements to support expansion.
- Proceeds of **INR 927.2 Cr** allotted for manufacturing phase I in Maharashtra.
- Production to commence by May 2026 with a target capacity of **0.5 Mn E2Ws**.
Investment and Market Position
Ather Energy, co-founded by Tarun Mehta and Swapnil Jain, recently joined the unicorn club after raising **INR 600 Cr ($71 Mn)** from its existing investor, National Investment and Infrastructure Fund (NIIF). With a valuation of approximately $1.3 Bn, the company anticipates boosting its market share through innovative products and charging infrastructure.
Performance Metrics
- Ather recorded **10,873** units in vehicle registrations in August; up **52% YoY**.
- However, the company reported a widened consolidated net loss of **INR 1,059.7 Cr** in FY24.
- Revenue from operations decreased by **1.5%** YoY to **INR 1753.8 Cr**.
In light of competitors like Ola Electric successfully going public, Ather’s strategic IPO submissions aim to carve out a significant footprint in the burgeoning electric vehicle market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.