Ather Energy on Friday raised ₹1,340 crore from anchor investors, which included several marquee names.
The board of Ather Energy, in consultation with the book running lead managers — Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Private Limited — finalised the allocation of 4.17 crore shares to anchor investors at ₹321 per share.
The anchor investors include Franklin Offshore, Abu Dhabi Investment Authority, Societe Generale, BNP Paribas, Morgan Stanley, SBI Mutual Fund, Invesco MF, ICICI Prudential Mutual Fund, Aditya Birla Sun Life, Helios Mutual Fund, Eastspring Investments, Prudential Hong Kong, Tocu Europe III SARL, Tata Investment Corporation, and Union Innovation & Opportunities.
Ather Energy’s ₹2,980-crore IPO will open on Monday at a price band of ₹304–321 per share. Of this, ₹2,626 crore will be a fresh issue, while the remainder will be an offer for sale by the promoters (Tarun Mehta and Swapnil Jain) and other shareholders, including Caladium Investment Pte, National Investment and Infrastructure Fund II (NIIF II), IIT-Madras Incubation Cell Corporate, and IITMS Rural Technology Business Incubator.
Out of the ₹2,626 crore to be raised through the fresh issue, ₹927.2 crore will be allocated toward setting up a new electric two-wheeler manufacturing facility in Maharashtra. An additional ₹750 crore is earmarked for investments in research and development, while ₹300 crore will be used for marketing initiatives. The company also plans to utilise ₹40 crore for debt repayment.
Published on April 25, 2025
