Ather Energy's Electrifying IPO Sparks Industry Interest

Ather Energy Ltd sets a price band of Rs 304 to Rs 321 for its Rs 2,981 crore IPO, open from April 28-30. The funds will bolster a new factory in Maharashtra and reduce debt. Ather follows Ola Electric in public offerings, with shares listing expected on May 6.

Ather Energy Ltd, a prominent electric two-wheeler manufacturer, has announced a price band range between Rs 304 and Rs 321 for its impending Rs 2,981 crore Initial Public Offering (IPO). Scheduled from April 28 to April 30, the issue represents the first mainboard public offering for the financial year 2025-26.

A day prior to public bidding, the IPO will be open for anchor investors on April 25. The offering comprises a fresh issue of equity shares amounting to Rs 2,626 crore, supplemented by an Offer-For-Sale (OFS) of 1.1 crore shares from existing shareholders, aiming to fund a new factory in Maharashtra and reduce existing debt, with an expected total company valuation of Rs 11,956 crore.

This venture positions Ather Energy as the second electric two-wheeler company to go public after Ola Electric Mobility. While advancing its market presence, Ather is also expanding its R&D capabilities. With Axis Capital, JM Financial, Nomura Financial Advisory and Securities, and HSBC Securities & Capital Markets as managers, Ather's shares aim to be listed by May 6.

(With inputs from agencies.)