 "Ather Energy aims to raise Rs 4,500 crore for expansion amidst India’s booming EV market, despite widening losses and fierce competition.")
Ather Energy, an Indian electric scooter manufacturer, has filed for a ₹4,500 crore (approximately $536 million) initial public offering (IPO) at a valuation of $2.5 billion. This move comes as the company aims to enhance its presence in the booming electric vehicle Market, following the recent IPO of competitor Ola Electric. From the total offering, Ather plans to issue new shares worth ₹3,100 crore, while existing investors, including CEO Tarun Sanjay Mehta, will sell shares valued at ₹1,400 crore. Proceeds from the IPO will be invested in establishing a new electric two-wheeler factory in Maharashtra and enhancing research and development efforts. Despite operating losses, Ather’s initiative signifies the growth momentum in India’s electric vehicle sector driven by government support for clean energy.
Ather Energy, an Indian electric two-wheeler manufacturer, is making headlines with its recent filing for an IPO valued at Rs 4,500 crore (approximately $536.2 million). This move comes as the company looks to capitalize on the booming stock Market and follows the successful public offering of its competitor, Ola Electric. The IPO will include the sale of new shares worth Rs 3,100 crore, while existing investors like co-founder Tarun Sanjay Mehta plan to sell shares worth Rs 1,400 crore.
The proceeds from this IPO will be directed towards establishing a new electric two-wheeler factory in Maharashtra and funding research and development efforts. Despite a widening loss of Rs 1,060 crore in the last fiscal year, Ather remains optimistic about its growth prospects as the demand for electric vehicles (EVs) continues to rise in India, spurred by government initiatives promoting clean energy.
Ather’s top shareholder, Hero MotoCorp, which holds a 37.2 percent stake, will not be selling any shares during this IPO. The broader Indian stock Market has seen an influx of nearly 200 companies raising over $7 billion this year, highlighting a vibrant investment climate. Market leader Ola Electric’s recent IPO raised $734 million and saw its share price more than double post-listing.
With EV adoption still growing, Ather’s entry into the public Market signals a strong commitment to expanding its operations and enhancing its competitive edge in the electric scooter segment.
Tags: Ather Energy, IPO, Electric Vehicles, India Stocks, Ola Electric, Clean Energy, Maharashtra Factory, EV Adoption.
What is Ather Energy planning to do?
Ather Energy is planning to raise $536 million by filing for an initial public offering (IPO). This means they want to sell shares of their company to the public to gain more money for growth.
Why is Ather Energy going public?
Ather Energy is going public to get funds that can help them expand their business, develop new products, and improve their electric scooters.
What does IPO mean?
IPO stands for initial public offering. It is when a private company offers its shares to the public for the first time, allowing people to invest in the company.
How will this IPO affect Ather Energy’s growth?
By raising money through the IPO, Ather Energy will have more resources to invest in making better products, expanding their Market, and increasing production capacity.
When can people buy shares of Ather Energy?
The exact date when shares of Ather Energy will be available to the public is not announced yet. People will need to keep an eye on the news for updates on the IPO launch.
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