Ather Energy raises Rs 1,340 cr from anchor investors ahead of IPO launch on April 28

Ather Energy Ltd, the electric two-wheeler maker, announced on Friday that it has successfully raised Rs 1,340 crore from anchor investors in preparation for its upcoming initial public offering (IPO). The Ather Energy IPO is set to open for public subscription on Monday, April 28, 2025.

Ather Energy’s IPO attracted a host of marquee anchor investors, including domestic mutual fund giants like SBI Mutual Fund, ICICI Prudential MF, Aditya Birla Sun Life MF, Invesco MF, and ITI MF. Global institutional names such as Franklin Templeton Global, Morgan Stanley Investment Management (MSIM), Pacific Investment Management Co. (PIMCO), and the Abu Dhabi Investment Authority (ADIA) also participated. Singapore-based Eastspring Investments, US-based Helios MF and Helios Capital (backed by Samir Arora), Tata Investment, and Union MF were among other notable participants. The anchor list further included Subhkam Ventures, a privately managed family office, along with LMR Partners, a British multi-strategy investment firm, and Ovata Capital, a Hong Kong-based asset manager.

As per a circular posted on the BSE website, the electric two-wheeler manufacturer has assigned 4.17 crore shares to 36 funds at a price of Rs 321 each, which is the highest end of the price range. This brings the total transaction value to Rs 1,340 crore.

The upcoming public issue, valued at Rs 2,981 crore and offering shares within a price range of Rs 304 to Rs 321 each, will be open for public subscription from April 28 to April 30.

Scheduled to take place in the first quarter of the current fiscal year (2025-26), this IPO will primarily consist of a fresh issue of equity shares amounting to Rs 2,626 crore, along with an offer-for-sale of 1.1 crore equity shares by the company's promoters and other shareholders.

Ather's goal with this fundraising initiative is to establish a new electric two-wheeler manufacturing plant in Maharashtra, as well as to reduce its outstanding debt obligations.

At the upper end of the stated price band, the total IPO value is expected to reach Rs 2,981 crore, potentially valuing the company at Rs 11,956 crore in total.