Bangalore’s electric two-wheeler manufacturer Ather Energy wants to fulfill domestic expansion as well as international ambitions. In the last financial year 2025, Ather, despite getting strict competition from Bajaj Auto and TVS, retained its market share. Now the company is relying on its Maharashtra plant producing one million vehicles.
According to Fada, till March this year, Ether had an 11.39 per cent stake in the electric two -wheeler market, which was the same in FY 2024. Meanwhile, competitors such as Ola Electric (29.93 per cent) have lost market share compared to companies like Bajaj Auto (20.08 per cent) and TVS (20.67 per cent).
In the nine months ended December 31, Ether Energy sold 1,07,983 vehicles, which is 45 per cent higher than a year ago. In FY 2024, the company sold 1,09,577 vehicles. The major electric two -wheeler company has brought the first major initial public issue (IPO) for FY 2026. The company with Tiger Global invested has planned to raise new shares by raising Rs 2,626 crore (earlier Rs 3,100 crore). Apart from the new issue, the IPO also includes a proposal for sales of 1.1 crore shares (OFS) with the participation of promoter groups and institutional investors.
Ather Energy has fixed a price scope of Rs 304 to 321 per share for the IPO to open on April 28. The bid for anchor (big) investors will open on April 25 and the issue will be closed on 30 April. According to market sources, Ather Energy has set a target of evaluating Rs 12,800 crore. The company had earlier estimated Rs 14,000 crore. The company did not confirm the evaluation.
Tarun Mehta, co-founder and executive director and Chief Affairs Officer of Ather Energy, said that I am not trying to run according to the market. Other sector companies are listed, so the story is clear. I think investors will appreciate it. Bankers have told us that this is the right opportunity to bring the issue.
First Published – April 23, 2025 | 10:40 pm IST
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