Public Market

Secondary Issues

E-scooter maker Ather Energy raises Rs.1,300-Cr via QIP

Inc42  

Bengaluru-based electric scooter manufacturer Ather Energy has raised about INR 1,300-Cr through a qualified institutional placement (QIP). The company allotted 1.08 Cr equity shares to investors as part of the transaction. The issue price was fixed at INR 1,202 per share, representing a 2.8% premium over the floor price of INR 1,169.70 per share set by the company.The fundraising saw participation from HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Edelweiss Mutual Fund, Tata Mutual Fund, Motilal Oswal Mutual Fund, and the Abu Dhabi Investment Authority. Each investor received an allocation exceeding 5% of the total issue size.The capital raised is expected to support the company’s ongoing operations and growth initiatives within the electric two-wheeler market.

Between Mar 2015 and Jul 2026, Ather Energy had attracted about $ 772 M from Hero Motocorp, NIIF, InnoVen Capital, Stride Ventures, Edelweiss Private Equity, GIC, Navam Capital, Sachin Bansal, Tiger Global and others.For FY25, Ather Energy had reported about INR 3,672 Cr in Operating Income and about INR 517 Cr in Net Loss.