/ 46 Shares
28-Apr-2025 - 30-Apr-2025
₹ 304 - ₹ 321
₹ 14766.00
46
92,867,945
Face Value - ₹ 1/- Per Share
Listing at BSE NSE
201,669 Application Required in Retail for 1 Time.
Registrar : Link Intime India Private Ltd
Fresh Issue of Equity Shares aggregating upto Rs..2,626 Cr and Offer for Sale of 11,051,746 shares
Category | % | Shares/Amount |
---|---|---|
QIB | 75% | 69,575,960 Shares Rs. 2233.39 CR |
HNI 1 | 5% | 4,638,397 Shares Rs.148.89 CR @ 7202 FORM 1X |
HNI 2 | 10% | 9,276,794 Shares Rs.297.79 CR @ 14405 FORM 1X |
Retail | 10% | 9,276,794 Shares Rs.297.79 CR @ 201669 FORM 1X |
Employee | 100,000 Shares Rs.2.91 CR |
BRLMs: Axis Capital, HSBC Securities, JM Financial
Retail (Upto 2 Lakh) | HNI (2 Lakh to 10 Lakh) | HNI (Above 10 Lakh) |
---|---|---|
201669 FORM 1X | 7202 FORM 1X | 14405 FORM 1X |
Category | Lots | Shares | Amount |
---|---|---|---|
Retail (Upto 2 Lakh) | 1 | 46 | ₹ 14,766 |
Retail (Upto 2 Lakh) | 13 | 598 | ₹ 191,958 |
S-HNI (2 Lakh to 10 Lakh) | 14 | 644 | ₹ 206,724 |
S-HNI (2 Lakh to 10 Lakh) | 67 | 3082 | ₹ 989,322 |
B-HNI (Above 10 Lakh) | 68 | 3128 | ₹ 1,004,088 |
Ather Energy was founded on 21st October 2013 and is headquartered in Bangalore,
Karnataka. As of Apr-Dec of fiscal 2025, Ather was the 4 th largest Electric 2-Wheeler
(“E2W”) manufacturer in India by sales volume, after Ola, TVS and Bajaj.
Ather Energy is a pioneer in the E2W industry as they introduced the Ather 450 in
2018 with a top speed of 80 kmph, which was comparable to ICE scooters and the
highest among E2W in India in 2018. They also introduced connected features and
cloud integration through a 3G SIM card for the first time in the E2W industry in India.
In 2024 Ather Energy launched a new range of ‘Rizta’ scooters targeting the family
convenience segment. It features a large seat, WhatsApp notifications on the vehicle
dashboard, voice commands through Alexa Skills and up to 56L of storage space. They
have also introduced traction control which is a segment first feature in the E2W
market. Rizta was awarded with Autocar electric 2W of the year award in Autocar
Awards 2025.
Ather Energy has brought about several firsts in the E2W industry by introducing
features like touchscreen dashboard with navigation, internet connectivity via 3G SIM,
aluminium chassis, fast charging and guide-me-home lights. They have also introduced
several industry first features such as traction control, fall safe, cloud integration, OTA
updates (Over-The-Air), ride statistics on app, through their software package -
AtherStack. Ather was also the first OEM to introduce an electric scooter with a high
speed of 80 kmph, first OEM to establish its own fast charging network (Ather Grid)
and the first OEM to develop a smart helmet (Halo).
Ather Energy’s manufacturing facility is located at Hosur, Tamil Nadu. They are also
planning to set up another manufacturing plant in Maharashtra, which has a high E2W
penetration and has a strong automotive supplier base.
In fiscal 2024, Ather Energy’s sales grew by 39.3% year-on-year to cross the 1 lakh unit
mark. Ather’s market share witnessed a growth of 25% year-on-year in Apr–Dec period
of fiscal 2025 with the 90,351 units sold compared to 71,973 units sold during the
same period in Apr - Dec fiscal 2024.
The company has built a strong dealer network with 265 Experience Centres (ECs)
across India as on December 31, 2024. They also have a dealer network present in
Nepal and Sri Lanka with 5 and 10 ECs respectively. Out of this 280 ECs globally, 3 ECs
are Company Owned Company Operated (COCO).
The company has launched two ‘smart helmets’ under the brand ‘Halo’ with light
weight version called ‘Halo Bit’. The helmet provides seamless connectivity and
enhanced safety and is the first smart helmet designed and developed by an E2W OEM
in India. Ather sells its software and battery warranty via the Propack bundle. The
Ather Battery Protect is a comprehensive 5-year warranty plan that extends the
battery’s manufacturer warranty of 3 years by an additional 2 years.
Ather Energy as part of its Ather Grid charging network, has a company owned
network of over 2,583 fast chargers in India, 22 in Nepal and 11 in Sri Lanka as of
December 31, 2024. Ather was the first 2-wheeler OEM to establish a two-wheeler fast
charging network in India in 2018 and has the widest footprint amongst two-wheeler
fast charging networks in India. Ather also has the provision of neighbourhood
charging which provides access to AC charging points in shared private spaces.
Competitive Strength
Ability to pioneer new technologies;
E2Ws are positioned at a premium price within their respective segments in the Indian E2W market;
Vertically integrated approach to product design with strong in-house R&D capabilities;
Software-defined ecosystem that drives customer engagement and margins;
Scalable technology platform enabling accelerated product launches;
Capital efficient and flexible operations;
Experienced management team and long-term investors committed to strong corporate governance standards.
Business Strategies
Strategic expansion of the product portfolio through multi-product technology platforms;
Expand and deepen the distribution network in India and beyond;
Improving operational efficiency and manufacturing capabilities through the establishment of the Factory 3.0;
Continue the focus on unit economics;
Securing the cell supply chain through long-term partnerships;
Continue to build the ‘Ather’ brand;
Pursue Selective Strategic Partnerships and Acquisitions.
Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
Assets | 2,172 | 1,913.5 | 1,976.8 | 818.6 |
Revenue | 1,617.4 | 1,789.1 | 1,801.8 | 413.8 |
Profit After Tax | -577.9 | -1,059.7 | -864.5 | -344.1 |
Net Worth | 108 | 545.9 | 613.7 | 224.9 |
Reserves and Surplus | 3,346.6 | 545.1 | 613.1 | 224.2 |
Total Borrowing | 1,121.6 | 314.9 | 485.2 | 298.4 |
Amount in ? Crore |
The Company Ather Energy IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No. | Objects of the Issue | Expected Amount (in Millions) |
---|---|---|
1 | Capital expenditure to be incurred by the Company for establishment of an E2W factory in Maharashtra, India. | 9,272 |
2 | Repayment/ pre-payment, in full or part, of certain borrowings availed by the Company. | 400 |
3 | Investment in research and development. | 7,500 |
4 | Expenditure towards marketing initiatives. | 3,000 |
5 | General corporate purposes. |
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