Mumbai, 23rd April 2025: Following Ola Electric’s IPO, Bengaluru-based Ather Energy has announced a new equity sale worth Rs 2,626 crore and an offer for sale (OFS) of 1.1 crore shares.
Ather intends to raise more than Rs 3,000 crore through the stock market, with an estimated valuation of Rs 12,000 crore. According to the company’s red herring prospectus (RHP) submitted to market regulator SEBI, Ather Energy’s initial public offering (IPO) will begin subscriptions on Monday, April 28, and close on Wednesday, April 30.
Anchor investors’ bidding will take place on Friday, April 25. The allotment for the Ather Energy IPO is expected to be finalised on Friday, May 2, 2025, with a listing on the BSE and NSE on Tuesday, May 6, 2025.
Ather sold 107,983 electric two-wheelers (E2Ws) during the nine months ending December 31, 2024, and 109,577 E2Ws for the fiscal year 2024.
As of December 31, 2024, the company has 265 experience centres and 233 service centres in India, five experience centres and four service centres in Nepal, and ten experience centres and one service centre in Sri Lanka.
Promoters Tarun Mehta and Swapnil Jain, as well as existing investors such as the National Investment and Infrastructure Fund Limited (NIIF) and Tiger Global Management’s Internet Fund III, are preparing to sell some of their stakes in the IPO.
However, Hero MotoCorp, which owns more than 37% of Ather, will not take part in the share sale. In addition to the new issue, the IPO will include an OFS component consisting of 11,051,746 equity shares, with participation from the promoter group and investors.
