Ather Energy files RHP papers with SEBI; to raise up to ₹2,626 cr via fresh issue

Ather Energy, one of India’s leading electric two-wheeler manufacturers, has filed its red herring prospectus (RHP) with the Securities and Exchange Board of India (SEBI), paving the way for a much-anticipated initial public offering.

The IPO will consist of a fresh issue of equity shares worth up to ₹2,626 crore, aimed at funding expansion, new product development, and debt repayment. Additionally, the offer includes an offer for sale (OFS) of up to 1.1 crore equity shares by existing shareholders.

Among the key sellers are founder and CEO Tarun Mehta and co-founder Swapnil Jain, who will jointly offload around 19.6 lakh shares. Other participating investors in the OFS are expected to include early backers and venture capital firms.

CNBC-TV18 had earlier reported that Ather has trimmed its internal valuation to ₹12,800 crore for the IPO. This recalibration comes amid shifting market conditions and a growing focus on profitability in the EV space.

The anchor book for the IPO will open on 25 April 2025, with the public subscription window running from 28 April to 30 April. Ather’s roadshow will begin with an investor meet in Mumbai on 23 April.

The IPO marks a milestone for the Indian EV ecosystem—Ather Energy will be the first large mainboard listing of FY26 and only the second pure-play electric vehicle manufacturer to go public in India, following Ola Electric’s market debut last year.

Founded in 2013, Ather has emerged as a prominent player in the premium electric scooter segment, known for models like the 450X and 450 Apex. The company operates experience centres across major cities and has been steadily expanding its footprint and charging infrastructure nationwide.