Ather Energy IPO: India's Electric Scooter Pioneer Hits the Stock Market
Ather Energy, a frontrunner in India’s electric two-wheeler segment, is set to launch its Initial Public Offering (IPO) on April 28, 2025. Founded in 2013, the company has been instrumental in driving India’s electric mobility push. The IPO will help fund its expansion and boost its standing in the increasingly competitive EV market.
IPO Details: Fresh Issue + Offer for Sale
Ather’s IPO consists of a fresh issue and an offer for sale (OFS):
Fresh Issue: ₹2,626 crore
Offer for Sale: 1.10 crore equity shares worth ₹354.76 crore
Total Issue Size: ₹2,980.76 crore
Price Band: ₹304–₹321 per share
Lot Size: 46 shares
Minimum Investment: ₹14,766
Open Date: April 28, 2025
Close Date: April 30, 2025
Listing Date: May 6, 2025
Exchanges: BSE and NSE
Objects of the Issue
Proceeds from the fresh issue will be used for:
New Manufacturing Facility: ₹927.2 crore (32.62%) for a plant in Maharashtra
R&D: ₹750 crore (25.15%) to boost product innovation
Marketing: ₹300 crore (10.06%) to expand brand reach
Debt Repayment: ₹40 crore (1.34%)
General Corporate Use: Remaining funds
Offer for Sale Details: Selling Shareholders
Promoters
Tarun Mehta (CEO): 10,00,000 shares (~₹32.1 crore)
Swapnil Jain (CTO): 10,00,000 shares (~₹32.1 crore)
Institutional/Corporate Investors
Caladium Investment Pte Ltd: 1,05,20,000 shares (~₹337.7 crore)
NIIF II: 46,16,519 shares (~₹148.2 crore)
Internet Fund III (Tiger Global): 40,00,000 shares (~₹128.4 crore)
3State Ventures Pte. Ltd.: 4,80,000 shares (~₹15.4 crore)
IITM Incubation Cell: 3,10,495 shares (~₹10 crore)
IITMS Rural Tech Incubator: 41,910 shares (~₹1.3 crore)
Individuals
Amit Bhatia: 18,531 shares (~₹59.5 lakh)
Karandeep Singh: 13,311 shares (~₹42.7 lakh)
Notably, Hero MotoCorp, Ather's largest shareholder (37.2% stake), is not participating in the OFS—signaling confidence in Ather’s growth trajectory.
Company Overview
Founded by Tarun Mehta and Swapnil Jain, Ather designs and manufactures electric scooters, battery packs, and related software. Known for the Ather 450 series and the recently launched Ather Rizta, the brand offers smart features like touchscreen dashboards and internet connectivity.
As of December 31, 2024, Ather operates:
India: 265 Experience Centres, 233 Service Centres
Nepal: 5 Experience Centres, 4 Service Centres
Sri Lanka: 10 Experience Centres, 1 Service Centre
Financials: Revenue Growth Amidst Narrowing Losses
Ather’s financials show solid revenue growth, with signs of narrowing losses:
Rs. in crore | FY22 | FY23 | FY24 | 9M FY25 |
|---|---|---|---|---|
Revenue | ₹408.9 | ₹1,780.9 | ₹1,753.8 | ₹1,578.9 |
Net Loss | ₹344.1 | ₹864.5 | ₹1,059.7 | ₹577.9 |
The launch of the Ather Rizta has notably contributed to revenue growth and reduced losses.
Conclusion
Ather Energy’s IPO offers a chance to invest in India’s evolving EV space. With a strong lineup, growing footprint, and emphasis on innovation, the company is poised to benefit from the shift to electric mobility. Still, investors should carefully evaluate Ather’s financials and the competitive landscape before committing.
More Related Articles
What is IPO Listing Time
10 January 2025 | 8 mins read
When a company goes public through an Initial Public Offering (IPO), investors eagerly await its listing. One of the key aspects of this process is the IPO listing time, which refers to when the shares of the company become available for trading on stock exchanges like NSE or BSE. Knowing the exact IPO listing time is crucial for those who wish to trade as soon as the market opens for that IPO. Let us explain the importance of IPO listing times, the process of an IPO listing, its implications for investors, and how the listing price is determined.
Here’s all You Need to Know About IPO Application Process
24 December 2024 | 6 mins read
The first time that a private company wishes to go public, that is, issue its shares to the general public, it has to float an Initial Public Offering (IPO). After an IPO is subscribed to by members of the general public (retail investors and others), the company can get listed on an exchange so that its stock can be traded. An IPO can constitute an offer of the sale of shares by existing shareholders, a fresh or initial issue of shares, or a blend of both. Subscribing to an IPO is a good way for investors to enter the domain of stock investing, especially if they research a company well and believe it has positive prospects. Nowadays, several investors can apply for an IPO as it comes out for subscription through online and offline methods, so there is no excuse not to invest. In this article, we delve into the IPO application process, the first step for getting shares through an IPO and getting your investment going!
What is Shelf Prospectus
6 August 2024 | 7 mins read
If you're curious to know about what a shelf prospectus is and how it fits into the financial world, you've come to the right place. Let us break it down into simple terms.