Ather Energy IPO Price Band Set At Rs 304-321 Per Share For Rs 3,000 Crore Fundraising
Ather Energy Ltd. has set the price band for a Rs 3,000-crore initial public offering at an estimated valuation of Rs 12,000 crore.
Shares in the first mainboard IPO of the ongoing financial year will be offered in a price band of Rs 304-321 apiece, at the upper end of which the Bengaluru-based EV maker will end up raising up to Rs 3,000 crore, according to a newspaper ad put out on Wednesday. Bids can be made for a minimum of 46 shares or multiples thereof. A discount of Rs 30/share is applicable for eligible employees.
Since the company was in loss in the financial year ending March 2024, a price-to-earnings ratio was not ascertainable.
The Ather Energy IPO, albeit smaller in size, includes a fresh issue of shares worth Rs 2,626 crore and an offer for sale of 11.05 equity shares. While co-founders and promoters Tarun Mehta and Swapnil Jain are participating, offloading nearly a million shares each, largest shareholder Hero MotoCorp Ltd. is abstaining and holding on to its 37.5% stake.
Ather Energy will be the first mainboard IPO of this financial year, 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.
Still, Mehta and Jain would take succour from the surge in sales since the DRHP.
Ather Energy's sales rose 20% year-on-year to 1.30 lakh units in the previous financial year, even as the wider electric two-wheeler industry grew 58% but market leader Ola Electric slumped. That gave the Bengaluru-based company a market share of 11.4% in the financial year 2024-25 as against 11.5% in the preceding year.
Founded in 2013, Ather was a college project of IIT Madras graduates Tarun Mehta and Swapnil Jain. The first scooter broke cover only in 2018, as the duo chose to fix the nuts and bolts, and watts and volts, of the product before a commercial launch. The second offering, the Rizta family scooter, came only last year, opening new geographies for the premium EV maker. Now, the company is set to become the second pure-play EV maker to list in India.
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
