Secondary Issues
Electric scooter maker Ather Energy to raise Rs.2,500-Cr
Listed electric vehicle maker Ather Energy ’s board has approved a proposal to raise Rs.2,500-Cr via a qualified institutional placement (QIP) and other equity-linked instruments. The company plans to issue securities totalling Rs.1,500-Cr through a QIP, with the remaining Rs.1,000-Cr to be raised via a preferential issue, rights issue, equity shares, or foreign currency convertible bonds.If completed, this will mark the company’s first fundraise since its listing last year. The company intends to use the funds to increase investments in manufacturing, product development, and distribution.Ather’s operating revenue grew 73.7% year-on-year to Rs.1,174.7 Cr. During the fiscal year, the company expanded its retail network to 700 experience centers.
Between Mar 2015 and Aug 2024, Ather Energy had attracted about $ 647 M from Tiger Global, Hero Motocorp, InnoVen Capital, Sachin Bansal, GIC, NIIF, Navam Capital, Edelweiss Private Equity, Stride Ventures and others.For FY26, Ather Energy had reported about INR 3,672 Cr in Operating Income and about INR 517 Cr in Net Loss.
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