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Ather Energy IPO: ₹2,626 Cr Fresh Issue, OFS by Promoters

Written by: Diksha Kalra

Published: Sep 16, 2026

Updated: Sep 16, 2026

2 min read

The proposed initial public offering (IPO) of Ather Energy comprises a fresh issue of equity shares aggregating to ₹2,626 crore, in addition to an offer for sale (OFS) of 1.1 crore equity shares by existing promoters and shareholders. Participants in the OFS include current investors such as the National Investment and Infrastructure Fund II, Internet Fund III Pte. Ltd, IITM Incubation Cell, IITMS Rural Technology and Business Incubator, as well as promoters Mr. Tarun Sanjay Mehta and Mr. Swapnil Babanlal Jain, who will be divesting part of their holdings.
Proceeds from the IPO will be allocated as follows:₹927.2 crore towards the establishment of a manufacturing facility for electric two-wheelers in Maharashtra, ₹40 crore for debt repayment, ₹750 crore for investment in research and development initiatives, and ₹300 crore for marketing and promotional activities. These allocations are scheduled to be utilised over the fiscal years 2026 through 2028.
Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Private Limited are acting as the book running lead managers for the offering. Link Intime India Private Limited has been appointed as the registrar to the issue.

IPO Date	April 28, 2025 to April 30, 2025
Issue Price Band	₹304 to ₹321 per share
Lot Size	46 Shares
Total Issue Size	9,28,58,599 shares
Fresh Issue	8,18,06,853 shares
Offer for Sale	1,10,51,746 shares

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