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2d ago

Ather Energy Secures ₹1,340 Crore Anchor Investments Ahead of IPO Launch

The electric two-wheeler maker's ₹2,980.76 crore IPO opens April 28, with proceeds earmarked for expansion, R&D, and debt reduction.

'A ₹50 crore payoff': How IIT Madras turned a ₹29 lakh bet into a massive Ather Energy windfall
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Overview

  • Ather Energy raised ₹1,340 crore from 36 anchor investors, including SBI Mutual Fund, Franklin Templeton, and Abu Dhabi Investment Authority, at ₹321 per share.
  • The IPO, set for April 28–30, aims to raise ₹2,980.76 crore, comprising a ₹2,626 crore fresh issue and ₹354.76 crore offer-for-sale by existing shareholders.
  • Funds will support a new manufacturing plant in Maharashtra, research and development, marketing, and debt repayment.
  • The IPO values Ather Energy at approximately ₹11,956 crore, making it the second pure-play electric two-wheeler company to list in India after Ola Electric.
  • Grey market premium for the IPO suggests modest listing gains, with analysts cautiously optimistic due to the company’s high leverage and ongoing losses.