Ather Energy IPO Is Finally Here, Ola Electric’s Maha Troubles

The Ather Energy IPO will open for subscription on April 28 and close on April 30, according to the red herring prospectus filed with the Securities and Exchange Board of India on Tuesday. The anchor placement is slated for April 25.

The offering comprises a fresh issue of shares worth Rs 2,626 crore, as against Rs 3,100 crore mentioned in the DRHP filed in September. It includes an offer-for-sale of 11,051,746 shares, which is nearly half of 22,000,766 offered in the DRHP. The shares have been priced at Rs 304-321 apiece, which pegs the size of the IPO at Rs 3,000 crore and valuation at about Rs 12,000 crore.

While Co-founders Tarun Mehta and Swapnil Jain are participating in the IPO, offloading nearly a million shares each, largest shareholder Hero MotoCorp Ltd. is still abstaining.

Ather Energy will be the first mainboard IPO of FY26, as the stock market is finally showing some signs of recovery after months of correction. It would be a test of investor appetite, nonetheless, given the convulsions at BluSmart (Gensol Engineering Ltd.) and Ola Electric Mobility Ltd. Also in question is the path to profitability.

The Ather Energy IPO will open for subscription on April 28 and close on April 30, according to the red herring prospectus filed with the Securities and Exchange Board of India on Tuesday. The anchor placement is slated for April 25.

The offering comprises a fresh issue of shares worth Rs 2,626 crore, as against Rs 3,100 crore mentioned in the DRHP filed in September. It includes an offer-for-sale of 11,051,746 shares, which is nearly half of 22,000,766 offered in the DRHP. The shares have been priced at Rs 304-321 apiece, which pegs the size of the IPO at Rs 3,000 crore and valuation at about Rs 12,000 crore.

While Co-founders Tarun Mehta and Swapnil Jain are participating in the IPO, offloading nearly a million shares each, largest shareholder Hero MotoCorp Ltd. is still abstaining.

Ather Energy will be the first mainboard IPO of FY26, as the stock market is finally showing some signs of recovery after months of correction. It would be a test of investor appetite, nonetheless, given the convulsions at BluSmart (Gensol Engineering Ltd.) and Ola Electric Mobility Ltd. Also in question is the path to profitability.

Mahindra’s Management Reshuffle: Mahindra Group has reshuffled its top management to have “strong, proven leaders” at the helm of its businesses. These include Veejay Nakra, Hemant Sikka and R. Veluswamy.

Tesla’s India Entry: The electric carmaker led by the eclectic Elon Musk is keen on entering “hot-market” India, but the prospect of 100% import duty of luxury cars in the world’s third largest automotive market creates “a lot of anxiety”.

Renault’s India Plans: The French carmaker is targeting annual sales of half-a-million units in India by 2030—or 12 times of current levels—as part of a renewed push to revive its long struggling business in the world’s third largest car market.

The Maharashtra government has told regional transport offices to shut Ola Electric stores operating without a trade certificate, widening its crackdown on the EV maker.

If a store or service centre of Ola Electric Mobility Ltd. is operational under an RTO without a trade certificate, “action should be taken to close that centre and original trade certificate should be cancelled,” Maharashtra's joint transport commissioner said in a show cause notice to RTOs in an email dated April 16, 2025.

The RTOs had one day to act and report the closures. 

NDTV Profit has seen a copy of the email sent to RTOs.

“Your claims regarding our stores in Maharashtra are speculative, incorrect and misplaced,” an Ola Electric spokesperson said in an emailed response to NDTV Profit's query Monday. “We continue to work closely with the concerned authorities in Maharashtra to address any specific queries or concerns.”

On April 23, 1987, Chrysler Corp. purchased Lamborghini in a deal estimated at $25 million.

Lamborghini was founded by tractor maker Ferruccio Lamborghini in 1963. 

Legend has it that he once had mechanical issues with his Ferrari, and decided to raise them with the founder Enzo Ferrari itself. After being denied an audience, he decided to build better, faster cars itself. This led to the development of the 350 GTV, a V12 two-seat coupe, in 1964. That was followed by the wildly successful Miura and Countach.

But the quest for faster and edgy cars was a drain on Lamborghini’s resources, so much so that the ownership of the “Raging Bull” has changed hands at least nine times.

In 1994, Chrysler sold Lamborghini to a group of investors based in Indonesia. Then in 1998 Volkswagen took ownership of the brand. Today, Audi is listed as the parent company of Automobili Lamborghini SpA. 

In 2024, Lamborghini sold a record-breaking 10,687 cars to clock its highest ever revenue of more than €3 billion. The Urus maker currently employs 2,000-2,500 people at its HQ in Sant’Agata Bolognese, Italy.

That’s all from us this week. Watch this space for more. Read more at ndtvprofit.com/auto.

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