Indian electric two-wheeler maker Ather Energy has filed revised draft papers with SEBI for IPO. Rs 2,626 crore will be raised through fresh issue in the IPO. Apart from this, 11,051,746 equity shares will be sold through Offer for Sale (OFS). According to media reports, it will be open for investors between 28 and 30 April. Earlier, Ather had submitted Draft Red Herring Prospectus (DRHP) i.e. papers in December 2024. IPO size reduced by 25% The company had earlier kept the issue size of the IPO at around Rs 4,000 crore. After this, it has been reduced by 25% to less than Rs 3,000 crore. Along with this, the company has also cut the valuation by more than 10%. Earlier the valuation of the company was estimated at $ 1.4 billion (about Rs 12,000 crore). Ather Energy has reached the category of unicorn startups The company raised $71 million i.e. Rs 595 crore in a new funding round led by existing investor, National Investment and Infrastructure Fund (NIIF) in October 2024. After this funding round, the valuation of Ather Energy increased to $1.3 billion i.e. Rs 10,913 crore and it reached the category of unicorn startups. In May, 286 crores were raised from a combination of debt-equity The company has raised funding in several rounds since the end of 2023. In May this year, it raised Rs 286 crore from a combination of debt and equity. Stride Ventures invested Rs 200 crore in Ather This funding was mainly obtained through venture debt and co-founders. Venture debt firm Stride Ventures has invested about Rs 200 crore in Ather Energy through debentures. ????At the same time, the startup’s co-founders Tarun Sanjay Mehta and Swapnil Jain have invested Rs 43.28 crore through Series F preference shares. In September last year, Hero MotoCorp announced its board’s approval for an investment of Rs 550 crore in Ather Energy. Ather is one of the top-4 electric scooter manufacturers in India As of April 2024, Ather Energy was one of the top-4 electric scooter manufacturers in India along with Ola Electric, TVS and Bajaj Auto. Ather Energy was incorporated in October 2013. The company is engaged in the business of designing, manufacturing, selling and servicing electric two-wheelers. The company also has its own charging infrastructure.
