Ather Energy intends to implement the OPI process in multiple initiatives | Photo credit: Reuters
The electric vehicle manufacturer, Ather Energy, has presented its red sandstick prospect (RHP) to the Sebi market regulator, marking the first step towards the initial public offer (IPO). The OPI will arrive on April 28 and close on April 30. The company plans to raise approximately ₹ 2,626 million rupees through a new issuance of shares. The problem also includes sacrifice for the sale of existing promoters and shareholders.
Ather intends to implement the multiple IPO Process -across initiatives. Of the total, ₹ 927.2 million rupees will be assigned to establish a new two -wheeled electrical manufacturing installation in Maharashtra. They are allocated to ₹ 750 million additional rupees for investments in research and development, while ₹ 300 million rupees will be used for marketing initiatives. The company also plans to use ₹ 40 million rupees for debt reimbursement.
.
Tarun Sanjay Mehta, CEO and promoter, and Swapnil Babanlal Jain, co -founder and promoter, will sell 9.8 Lakh of actions each. Caladium Investment PTE, National Investment and Infrastructure Fund II, Iit-Madras Incubation Cell Corporate and Iitms Rural Technology and Amit Bhatia are the other investors who download their shares.
Hero Motocorp to remain silent
However, Hero Motocorp, which has a 38.2 percent participation in the EV startup, is not selling its participation.
The company’s income revenues decreased slightly in fiscal year24 to ₹ 1,753.8 million rupees compared to ₹ 1,780.9 million rupees in the fiscal year23. The fall was attributed to the reduction in the fastest adoption and manufacture of electrical subsidies (fame), which caused effect on June 1, 2023. This effectively increased the retail price of its two electric wheels (E2WS), which led to a fall in sales.
However, ATher E2W sales volume increased after the launch of new variants, including ATHT 450X (2.9 KWh), ATHTRO 450S (its lower price model) and the ATer 450 Apex (its most premium model). The income of these new partial variators compensate for the decrease in the income of the previous E2W models, he said in his RHP filed before Sebi.
Ather will be the second two-wheeled company to become public after Ola Electric, who appeared in August 2024 with a pricing band of ₹ 72-76 per action. According to VAHAN’s data by March 2025, Ather sold 15,446 vehicles. Bajaj Auto led the segment with 34,863 units, followed by TVS Motor at 30,454, and Ola Electric to 23,430 units.
Posted on April 22, 2025
