Ather Energy Raises INR 1,340 Crore Ahead Of IPO Launch Axis Capital, JM Financial, Nomura Financial Advisory and Securities (India), and HSBC Securities & Capital Markets are managing the issue. Ather's shares are expected to debut on the stock exchanges on May 6.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Electric two-wheeler manufacturer Ather Energy has secured INR 1,340 crore from anchor investors ahead of its highly anticipated initial public offering (IPO), according to a regulatory filing. The IPO, set to open for subscription on April 28, is the first mainboard listing of the 2025–26 financial year.
The company allotted 4.17 crore shares to 36 anchor investors at INR 321 apiece, the top end of its price band of INR 304–321. The anchor round drew strong interest from a mix of marquee global and domestic names. Custody Bank of Japan, Franklin Templeton, Abu Dhabi Investment Authority, Eastspring Investments, Morgan Stanley Investment Management, and Societe Generale were among the international investors participating. On the domestic front, mutual funds and insurers like PSBI Mutual Fund, Aditya Birla Sun Life MF and Insurance, ICICI Prudential MF, Invesco MF, ITI MF, and Union MF also backed the offering.
The INR 2,981 crore IPO comprises a fresh issue of shares worth INR 2,626 crore and an offer-for-sale (OFS) of 1.1 crore equity shares by existing shareholders and promoters. At the upper end of the price band, Ather's valuation is pegged at around INR 11,956 crore.
Proceeds from the fresh issue will be used to set up a new manufacturing facility for electric two-wheelers in Maharashtra and to pare down existing debt. The IPO structure sets aside 75 per cetn of the issue for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail investors.
The company will become the second major electric two-wheeler maker to list after Ola Electric Mobility, which launched its INR 6,145 crore IPO last August. Ola's issue included a fresh issue of up to INR 5,500 crore and an OFS of 8.5 crore equity shares. This marks a major milestone not just for Ather, but for the broader electric mobility sector in India.
Beyond its IPO ambitions, Ather has been quietly strengthening its research and development efforts. The company recently expanded its product testing and validation centre, signaling a clear push to enhance innovation as competition in the electric mobility space intensifies.
Axis Capital, JM Financial, Nomura Financial Advisory and Securities (India), and HSBC Securities & Capital Markets are managing the issue. Ather's shares are expected to debut on the stock exchanges on May 6.
