24th April, 2025: When Ather Energy, a Bengaluru-based EV maker, launches its initial public offering (IPO) on April 28, approximately 1300 employees will receive ESOPs totalling Rs 350 crore.
Ather disclosed this information in its red herring prospectus, stating that the company’s total ESOP (employee stock option) pool is 16.23 million.
According to analysts, Ather’s total outstanding ESOPs would be worth around Rs 530 crore (approximately $62 million) based on the IPO’s stated upper price band of Rs 321 in the RHP.
Notably, the company issued 4.6 million employee stock options between the start of fiscal year 25 and the RHP filing date.
Ather Energy’s proposed public listing has a total issue size of Rs 2,980.7 crore, which includes a fresh issue of Rs 2,626 crore and an offer for sale of Rs 354.76 crore.
According to the red herring prospectus, the company plans to invest Rs 927.2 crore to build a new electric two-wheeler manufacturing facility in Maharashtra. An additional RS 750 crore has been set aside for R&D investments, with RS 300 crore allocated to marketing initiatives. Ather Energy has also allocated Rs 40 crore for debt repayment.
