Ather Energy has recently re-filed its initial public offering (IPO) draft papers as mentioned in its various news reports. Through this IPO, Ather plans to raise ₹3,700-4,000 crore. This will be through a mix of primary and secondary share sales.
As mentioned in DRHP dated September 9, 2024, Aether plans to use funds from the fresh issue for the following:
Aether Energy faces tough competition from major industry players like Ola Electric, Hero Electric, TVS Motor Company, and Bajaj Auto. The following table showcases the comparison between the much-awaited Aether Energy IPO and other competitors:
| Aspect | Ather Energy | Ola Electric | Hero Electric | TVS Motor Company | Bajaj Auto |
| Market Position | Niche, strong presence with 12.2% market share | Dominant, 42.4% market share | Largest E2W player with 30-31% market share in 2021 | Strong presence in ICE and EV segments | Strong traditional player, EV penetration still low |
| Financial Performance | IPO planned for ₹3,700-4,000 crore, still not profitable | ₹5,009.8 Cr revenue in FY 2024, profitable | Benefits from extensive dealership network and low-cost products | Financial stability, diversified portfolio | Financially resilient, self-sustaining revenue streams |
| Product Portfolio | Premium, tech-driven scooters like 450X & 450 Plus | Budget-friendly S1 & S1 Pro | Lower-cost models ranging from ₹46,640 to ₹83,940 | Diversified, with both ICE and EV offerings | Focus on EV Chetak, gradual expansion in EV portfolio |
| Expansion & Growth Plans | IPO proceeds for scaling manufacturing, R&D, charging infrastructure | Vertical integration with in-house battery cell manufacturing | Strong dealership network across 325 cities | Focus on leveraging dealership network to scale EVs | Gradual EV expansion, leveraging dealership network |
| Focus Areas | High-end product differentiation, brand loyalty | Aggressive pricing, economies of scale | Cost-effective models, wide distribution network | Focus on diversification, tech-driven EV offerings | Gradual EV transition, brand legacy, and dealership network |
| Technology & Innovation | Cloud connectivity, OTA updates, smart charging solutions | In-house battery cell manufacturing for cost advantage | Limited focus on tech innovation | Leveraging network for EV expansion, moderate tech investment | Focus on legacy brand, slow adoption of new tech in EVs |
Founded in Jan 2013 by Tarun Sanjay Mehta and Swapnil Babanlal Jain, Aether Energy is a pioneer in the Indian electric two-wheeler (E2W) market. The company is engaged in designing and developing E2Ws, battery packs, charging infrastructure, associated software and accessories.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 19, 2025, 2:27 PM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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