Ather Energy Powers Up with Rs 2,981 Crore IPO

Ather Energy, an electric two-wheeler manufacturer, has raised Rs 1,340 crore from anchor investors prior to its initial public offering (IPO) set for April 28. The IPO aims to generate Rs 2,981 crore to fund new factory construction and debt reduction. Key investors include Morgan Stanley and Franklin Templeton.

Ather Energy, the renowned electric two-wheeler manufacturer, announced its successful mobilization of Rs 1,340 crore from anchor investors, just days ahead of its IPO launch. Opening on April 28, this initial public offering marks the first mainboard public issue for the fiscal year 2025-26.

The funds were garnered from prominent investors, including Custody Bank of Japan, Franklin Templeton, and Abu Dhabi Investment Authority. The company allocated 4.17 crore shares to 36 funds at Rs 321 per share, the upper end of the specified price band.

With a total valuation at Rs 11,956 crore, Ather Energy plans to utilize the IPO proceeds for establishing a new electric two-wheeler factory in Maharashtra and reducing debt. Additionally, Ather is bolstering its research and development capabilities, aiming for long-term growth and innovation in the electric vehicle space.

(With inputs from agencies.)