Ola Electric After this, now another electric company is going to enter the stock market. Electric two-wheeler manufacturer Ather Energy Submit your DRHP to SEBI next week (Draft Red Herring Prospectus) Ather is planning to file an IPO, through which the company is preparing to raise ₹ 4,500 crore. This IPO (Initial Public Offering) will include issuance of new shares as well as Offer for Sale (OFS). Ather has taken this step a month after the successful listing of its big rival Ola Electric.
According to sources,
Ather Energy is targeting a valuation of $2.5 billion, which has doubled since the last fundraise.
Last month, Ather acquired its existing investor
Last month, Ather raised $71 million in funding led by its existing investor National Investment and Infrastructure Fund (NIIF), taking the company’s valuation to $1.3 billion and making it a unicorn startup.
Ather has raised multiple rounds of funding since late 2023
Ather has raised multiple rounds of funding since late 2023. In May 2024, Ather raised ₹286 crore ($34 million), primarily from venture debt and co-founders. Ather’s ₹4,500 crore IPO was first reported by the Economic Times.
In September 2023, existing shareholders of Ather
In September 2023, Ather’s existing shareholder Hero MotoCorp announced an investment of ₹550 crore. Ather’s rival Ola Electric raised ₹6,146 crore from its IPO in August 2024. Ola shares rose 20% after listing and the company’s valuation reached $4.8 billion.