Electric two-wheeler maker Ather Energy has set the price band for its initial public offering (IPO) at Rs 304 to Rs 321 per equity share. The IPO will open for public subscription on April 28 and close on April 30, with the anchor investor allocation scheduled for April 25.
Investors can bid for a minimum lot size of 46 equity shares, and in multiples thereof. The public issue comprises a fresh equity raise of Rs 2,626 crore, alongside an offer for sale (OFS) of 1.1 crore shares. Promoters Tarun Sanjay and Swapnil Babanla, along with other institutional shareholders, will divest part of their stakes through the OFS.
Ather Energy plans to deploy the IPO proceeds toward a range of strategic goals—including establishing a new manufacturing facility in Maharashtra, repaying debt, investing in research and development, boosting marketing efforts, and covering general corporate expenses.
Founded as a pure-play electric vehicle (EV) company, Ather Energy designs and sells premium electric scooters, including the Ather 450 and Ather Rizta—spanning seven variants. The company manufactures battery packs in-house using lithium-ion cells sourced from global suppliers, while outsourcing other components such as electronics and chassis.
Ather has also developed its own proprietary software platform, Atherstack, which powers features like navigation, ride analytics, safety functions, and productivity tools—cementing its position as a tech-first EV player.
As of December 2024, Ather Energy holds an estimated 11% share of India’s electric two-wheeler market, positioning itself as one of the key challengers in the rapidly expanding EV landscape.