Ather Energy files for IPO

The Ather Energy scooter is not just a mode of transportation but also a statement of sustainability and innovation. With its electric drivetrain and state-of-the-art technology, it epitomizes the urban mobility of the future. Not only can riders reduce their carbon footprint, but they can also enjoy a smooth and quiet ride. The Ather Energy scooter is more than just a way to get around for those who value sustainability and style. That is a way of being. India’s largest EV two-wheeler fast charging grid network is located in Ather. Ather EV electric scooter can be charged in three different ways.

Following Ola Ather Energy’s Rs. 4500 crore IPO filing:

According to a source with direct knowledge of the matter, Indian electric two-wheeler manufacturer Ather Energy filed an IPO on Monday for Rs 4,500 crore ($536.2 million), valuing the company at $2.5 billion. The company hopes to capitalize on a fervent stock market a few weeks after its larger rival, Ola Electric, went public.

In the IPO, Ather is offering new shares valued at Rs 3,100 crore, according to draft documents submitted to the market watchdog. 

The IPO is the latest in India’s booming stock market that has attracted about 200 companies to raise more than $7 billion through IPOs so far this year, per LSEG data. Market leader Ola Electric, which listed after a $734 million IPO on Aug. 9, among India’s biggest this year, more than doubled from its IPO price of Rs 76 before trimming some gains.

No selling from Hero MotoCorp in IPO:

In the market for electric scooters, Ather competes with Ola Electric, which was recently listed. Hero MotoCorp, an Indian bike manufacturer and Ather’s largest shareholder with a 37.2% stake has decided not to sell any shares during the IPO.

India is slow to adopt EVs:

In India, EV adoption is still low but is growing as a result of the government of Prime Minister Narendra Modi’s promotion of clean energy. Ather stated that it would use the money raised from the initial public offering (IPO) for R&D as well as to build an electric two-wheeler factory in the Indian state of Maharashtra.

The prospectus states that in fiscal 2024, the company’s loss increased to Rs 1,060 crore from Rs 864 crore the previous year, marking at least the second consecutive year of growth. The issue’s book-running lead managers are HSBC, Axis Capital, JM Financial, and Nomura.

Conclusion: Ather aims to raise capital through an initial public offering (IPO) to support its growth in the electric vehicle industry by ensuring a stable cash flow.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.