Ather Energy, a leading EV manufacturer in India, plans to raise ₹2,626 crore in its IPO between April 28-30. The company, valued at ₹14,000 crore, filed its draft red herring prospectus with SEBI. Founders Tarun Mehta and Swapnil Jain, along with investors like Tiger Global, will partially offload stakes, while Hero MotoCorp retains its 37% share.
The proceeds will fund a new factory in Maharashtra, debt repayment, R&D, and marketing. Ather aims to boost production with its upcoming Factory 3.0 in Aurangabad, integrating automation to improve efficiency. As the second pure-play EV maker in India to go public after Ola Electric, Ather plans to capitalize on the growing EV market, which could reach 40% penetration by FY31.
This IPO is a milestone in Ather’s journey and highlights its commitment to innovation and sustainable solutions. Investors are watching this opportunity closely in the evolving EV space.
