Ather Energy to launch its IPO: SEBI gives final nod

Ather Energy, India’s premium two-electric vehicle manufacturing company, on Dec.30, secured the final approval from the Securities Exchange Board of India (SEBI) to release its Initial Public Offering

The company's Draft Red Herring Prospectus indicates that the total IPO size may be approximately Rs 4,500 crore, however, the firm has not yet filed its RHP paperwork. Following its rival Ola Electric Mobility's August debut, Ather Energy will be the second business to list on the bourses if the IPO is launched.

Ather submitted draft documents on 9 September in an effort to raise money for debt reduction and the construction of an E2W (electric two-wheeler) factory in Maharashtra. In the initial public offering (IPO), promoters and investors will offer 2.2 crore equity shares for sale in addition to a new issue of equity shares valued at Rs 3,100 crore.

According to a report by Moneyvcontrol, Ather is trying to achieve a valuation of approximately $2.5 billion. Since its most recent funding, the valuation has doubled. Ather Energy became a unicorn business in August 2024 after securing $71 million in a fresh investment round led by its current partner, the National Investment and Infrastructure Fund (NIIF). Following the last investment, the company's valuation reached $1.3 billion.