Ather Energy’s ₹2,980 Crore IPO to Open on April 28
Second pure-play electric two-wheeler firm to hit the bourses after Ola Electric
By : Ravi Ranjan Prasad
Update: 2025-04-24 08:38 GMT
Mumbai: Bengaluru-based electric two-wheeler manufacturer Ather Energy is set to launch its much-anticipated initial public offering (IPO) on Monday, April 28, in a price band of ₹304 to ₹321 per equity share of face value ₹1. The ₹2,980.76 crore issue will be the first large main board IPO of FY 2025-26, marking a revival in the primary markets after a prolonged lull.
The IPO comprises a fresh issue of shares worth ₹2,626 crore and an offer for sale (OFS) of ₹354.76 crore by promoter shareholders. The issue will close on April 30, 2025.
Ather Energy will become the second pure-play electric two-wheeler company to go public, following Ola Electric Mobility’s listing in August 2024. Known for its in-house assembled electric scooters, Ather also designs its own software, charging infrastructure, and accessories. While the company manufactures its battery packs using lithium-ion cells sourced from suppliers, it outsources the production of other vehicle components such as electronics and chassis. Motors and chargers used in Ather vehicles are also procured from external suppliers who design and manufacture them.
Of the total shares on offer, 75% will be allocated to qualified institutional buyers (QIBs), 15% to high net-worth individuals (HNIs), and only 10% to retail investors.
Proceeds from the fresh issue will be utilised for multiple growth initiatives, including ₹927.2 crore towards establishing a greenfield electric two-wheeler manufacturing facility near Shambhaji Nagar (formerly Aurangabad) in Maharashtra, ₹750 crore for R&D, ₹400 crore for debt repayment, and ₹300 crore for marketing efforts.
The IPO comprises a fresh issue of shares worth ₹2,626 crore and an offer for sale (OFS) of ₹354.76 crore by promoter shareholders. The issue will close on April 30, 2025.
Ather Energy will become the second pure-play electric two-wheeler company to go public, following Ola Electric Mobility’s listing in August 2024. Known for its in-house assembled electric scooters, Ather also designs its own software, charging infrastructure, and accessories. While the company manufactures its battery packs using lithium-ion cells sourced from suppliers, it outsources the production of other vehicle components such as electronics and chassis. Motors and chargers used in Ather vehicles are also procured from external suppliers who design and manufacture them.
Of the total shares on offer, 75% will be allocated to qualified institutional buyers (QIBs), 15% to high net-worth individuals (HNIs), and only 10% to retail investors.
Proceeds from the fresh issue will be utilised for multiple growth initiatives, including ₹927.2 crore towards establishing a greenfield electric two-wheeler manufacturing facility near Shambhaji Nagar (formerly Aurangabad) in Maharashtra, ₹750 crore for R&D, ₹400 crore for debt repayment, and ₹300 crore for marketing efforts.