Ather Board Approves ₹2,500-Crore Fundraising Plan to Support Expansion

The EV maker plans to raise fresh capital through a QIP and other equity-linked instruments as it prepares for its next phase of growth.

Ather Energy has received board approval to raise up to ₹2,500 crore through a mix of qualified institutional placement (QIP) and other equity-linked instruments, according to a regulatory filing.

The company plans to raise up to ₹1,500 crore through a QIP, while an additional ₹1,000 crore may be mobilized through instruments such as equity shares, foreign currency convertible bonds (FCCBs), preferential allotments, rights issues and other eligible securities.

Ather’s board has also constituted a fundraise committee to oversee the proposed capital-raising exercise.

The approval comes after the company revealed earlier this week that its board would consider a fresh fundraising proposal as it prepares for the next phase of expansion.

The move follows rival Ola Electric’s ₹780-crore QIP on June 4, which attracted participation from investors including SBI Mutual Fund, Motilal Oswal Mutual Fund and Invesco.

Ather has been expanding its retail and service network across the country. During FY26, the company increased its retail footprint from 351 stores to 700 stores. According to its quarterly results, Ather sold around 83,000 electric scooters in the March quarter, supported by growing demand across southern and northern India.

The fundraising plan was announced on June 13, 2026. Ather is among India’s leading and largest electric two-wheeler manufacturers and has been expanding its retail, service and charging infrastructure to support future growth.