Just over a month after its IPO, Ather is evaluating fundraising options to support expansion, technology investments, and future growth.
Electric two-wheeler manufacturer Ather Energy is preparing to explore a fresh round of fundraising just weeks after making its stock market debut. The company’s board of directors is scheduled to meet on June 12 to consider various options for raising capital.
In a regulatory filing submitted to the National Stock Exchange (NSE) and BSE on June 8, Ather stated that the board will evaluate a proposal to raise funds through a range of instruments. These may include equity shares, foreign currency convertible bonds (FCCBs), non-convertible debentures (NCDs), warrants, or other securities that can be converted into equity.
The company said the fundraising could be carried out through multiple routes permitted under applicable regulations, such as a public issue, rights issue, private placement, qualified institutions placement (QIP), preferential allotment, or a combination of these methods. Any proposed transaction would remain subject to necessary regulatory clearances and shareholder approval.
While Ather has not disclosed the amount it intends to raise, the board is expected to assess the available options and decide on the most suitable structure for the capital infusion.
The planned fundraising comes amid increasing competition in India’s electric two-wheeler industry, where manufacturers are ramping up investments in new products, charging infrastructure, retail networks, and technology development to capture market share.
Founded by Tarun Mehta and Swapnil Jain, Ather Energy has established itself as one of the leading electric scooter brands in India. Additional capital could help the company accelerate expansion plans, strengthen operations, and enhance its position in the country’s rapidly growing electric mobility market.
Ather’s move follows a broader trend among EV companies seeking fresh capital to support growth. Rival electric vehicle manufacturer Ola Electric recently completed a qualified institutional placement, raising approximately ₹780 crore. The company had launched the issue with a floor price of ₹37.74 per share and said the funds would be used for debt reduction, expansion initiatives, and general corporate requirements.
