Ather Energy submitted a request for an initial public offering earlier this year, which has now received approval from the Securities and Exchange Board of India (SEBI). The regulatory authority has authorized Ather's proposal in conjunction with six other companies from diverse sectors.

The proposed IPO by Ather Energy, a manufacturer of electric two-wheelers, includes a fresh issuance of equity shares valued at ₹3,100 crore, along with an Offer For Sale (OFS) of 2.2 crore equity shares by its promoters and investor shareholders. The entities participating in the OFS include Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II, 3State Ventures Pte Ltd, IITM Incubation Cell, and IITMS Rural Technology and Business Incubator, among others.

Ather Energy plans to set up a manufacturing facility in Maharashtra utilizing the funds raised from its initial public offering (IPO) 

The funds raised from the new issuance will be allocated towards capital expenditures for the establishment of an electric two-wheeler manufacturing facility in Maharashtra, as well as for investments in research and development, marketing efforts, loan repayments, and general corporate activities.

This marks the second electric two-wheeler enterprise aiming to enter the public market, following Ola Electric Mobility, which launched its ₹6,145-crore initial public offering in August. This was also the first public offering by an automotive manufacturer in India in over two decades.

Ather Energy operates as a dedicated electric vehicle company, developing all its products from the ground up within India. Since its founding in 2013, the company has concentrated on advancing product and technology development in India to create a robust electric two-wheeler ecosystem.

Ather's Products and Services

Currently, Ather has a lineup of three electric scooters available in its portfolio. This includes the Ather Rizta series and the Ather 450 series. The price range for these scooters is between ₹1.09 lakh (ex-showroom) and ₹1.89 lakh (ex-showroom). Additionally, the electric vehicle manufacturer is providing special year-end incentives of up to ₹20,000 at this time. Ather's scooters are equipped with cutting-edge technology and are available in vibrant colors. Depending on the model selected, these scooters feature a touchscreen display, multiple riding modes, hill-hold capability, anti-skid systems, and other essential safety features.

Read Also: Final Day to Book Your Vehicle: January 1 Price Hikes Loom

HOW DID YOU LIKE THIS ARTICLE? CHOOSE YOUR EMOTICON!