Indian electric two-wheeler maker Ather Energy has attracted more than 100 billion rupees (US$1.04 billion) in bids for its 1,300 rupees (US$14)-crore qualified institutional placement.

The share sale was more than eight times subscribed and is part of a broader 2,500 rupees (US$26)-crore fundraising to support manufacturing, research and development, and new products.

Ather is also raising 12 billion rupees (US$125 million) from existing investors.

Hero MotoCorp will invest about 9.6 billion rupees (US$99.7 million) through convertible warrants, while the India-Japan Fund will invest 2 billion rupees (US$20.8 million) through equity shares.

The fundraising follows Ather’s listing on the National Stock Exchange and BSE on May 6, 2025.

Ather has announced a third manufacturing plant in Maharashtra.

Its Hosur factory has an annual installed capacity of 420,000 electric vehicles.

In FY2024, it was India’s third-largest electric two-wheeler maker by sales volume, with 109,577 units sold and an 11.5% market share.

In the March quarter, Ather’s net loss narrowed 57.2% year on year to 1 billion rupees (US$10.4 million), while operating revenue rose 73.7% to 11.7 billion rupees (US$122 million).

🔗 Source: The Economic Times

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