Ather Energy, a Bengaluru-based electric-vehicle maker, said on July 21 that it raised 13 billion rupees (US$135 million) in a qualified institutional placement launched on July 15.

The company issued 1.08 crore equity shares at 1,202 rupees (US$12) each to investors including ADIA, White Oak, William Blair, HDFC Mutual Fund, Axis Mutual Fund, and Edelweiss Mutual Fund.

The company listed on May 6, 2025, making the qualified institutional placement a fundraising route for listed companies after an initial public offering.

The placement follows a 12 billion rupees (US$125 million) preferential issue approved earlier.

The capital is expected to go toward working capital, research and development, sales and distribution, manufacturing expansion, and other growth initiatives.

After the allotment, Ather’s paid-up equity capital rose to over 394.1 million rupees (US$4.09 million).

🔗 Source: Press Trust of India

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