Ather Energy Sets IPO Price Band At Rs 304–Rs 321 Per Share; Details Inside

The three-day bidding window for public investors is scheduled to open on April 28 and will close on April 30. Before that, a private placement for anchor investors will take place on April 25

As part of the public offer, existing shareholders will now sell 11.1 million shares, a significant cut from the previously planned 22 million shares

Source : ABPLIVE AI

Bengaluru-based electric scooter manufacturer Ather Energy has announced the price band for its upcoming initial public offering (IPO), setting it between Rs 304 and Rs 321 per share. The details were disclosed in a public advertisement issued by the company on Wednesday.

The Tiger Global-backed startup has scaled down its IPO size to Rs 2,626 crore (approximately $308.3 million), revising it from its earlier target of Rs 3,100 crore. This reduction comes as the company looks to adjust its fundraising strategy amid changing market dynamics.

As part of the public offer, existing shareholders will now sell 11.1 million shares, a significant cut from the previously planned 22 million shares. Despite the trimmed offer for sale, Hero MotoCorp — Ather’s largest stakeholder with around 40 per cent ownership — has reaffirmed its position not to offload any shares in the IPO.

The three-day bidding window for public investors is scheduled to open on April 28 and will close on April 30. Before that, a private placement for anchor investors will take place on April 25.

About Ather Energy

Founded in 2013, Ather Energy was among the pioneers of the electric two-wheeler market in India, launching its first electric scooters in 2018. However, in recent years, it has faced stiff competition from more aggressive players such as Ola Electric and TVS Motor Company. These rivals have gained ground through deeper market penetration, wider dealership networks, and significant pricing incentives.

The IPO marks a crucial step for Ather as it seeks to bolster its market position and fund future expansion plans in a fast-evolving electric mobility landscape. The offering will also serve as a key litmus test for investor sentiment toward India’s electric vehicle sector amid growing interest and increasing competition.