243  Total SME IPOs listed in 2024

9485.84 Crs.  Total funds raised in 2024

219  SME IPOs listed with Gain in 2024

24  SME IPOs listed with loss in 2024

243  Total SME IPOs listed in 2024

9485.84 Crs.  Total funds raised in 2024

219  SME IPOs listed with Gain in 2024

24  SME IPOs listed with loss in 2024

243  Total SME IPOs listed in 2024

9485.84 Crs.  Total funds raised in 2024

219  SME IPOs listed with Gain in 2024

24  SME IPOs listed with loss in 2024

243  Total SME IPOs listed in 2024

9485.84 Crs.  Total funds raised in 2024

219  SME IPOs listed with Gain in 2024

24  SME IPOs listed with loss in 2024

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Ather Energy Limited

Bangalore

Date of DRHP : 09 Sep 2024

Issue Type : Book Building Process

IPO Type :
MainBoard IPO

Ather Energy Basic Details

   Electric Equipments

Sub Sector: design and develop E2Ws, battery packs, charging infrastructure, associated software and accessories

About the Company

Ather Energy is a pioneer in the Indian electric two-wheeler (“E2W”) market, according to the CRISIL Report. Ather Energy design and develop E2Ws, battery packs, charging infrastructure, associated software and accessories, while Ather Energy manufacture their battery packs and assemble their E2Ws in-house. Ather Energy was founded by Tarun Sanjay Mehta and Swapnil Babanlal Jain in 2013, with a focus on product and technology development in India in order to build an E2W ecosystem. Ather Energy is a pure play EV company that designs all their products ground-up in India. Ather Energy sold 109,577 E2Ws in Fiscal Year 2024. According to the CRISIL Report, in Fiscal Year 2024, Ather Energy were the third largest player by volume of E2W sales. Ather Energy build products with a focus on quality and user experience. Ather Energy products are positioned at a premium price in their respective segments Ather Energy launched their first product, the Ather 450, in June 2018. With the Ather 450, Ather Energy introduced connected features through a 3G SIM card, touchscreen dashboard, aluminium chassis and cloud integration for the first time in the E2W industry in India, according to the CRISIL Report. It was also the first E2W to offer a top speed of 80 kmph, comparable to internal combustion engine (“ICE”) scooters and had the highest top speed among E2Ws in India in 2018. Ather Energy's current E2W portfolio comprises two product lines – the Ather 450 line, which caters to customers seeking performance scooters, and the Ather Rizta line, which is targeted at customers seeking convenience scooters for their family. Launched in April 2024, the Ather Rizta features a large seat, WhatsApp notifications displayed on the vehicle dashboard, voice commands through Alexa Skills, up to 56 L of storage and introduced traction control to the Indian E2W market, according to the CRISIL Report.

Financial Summary (Annualised Basis)

Revenue :
1789.10 Cr.

PAT :
-1059.00 Cr.

Ather Energy DRHP Details

Objects of issue

  • Capital expenditure to be incurred by Company for establishment of an E2W factory in Maharashtra, India
  • Repayment/ pre-payment, in full or part, of certain borrowings availed by the Company
  • Investment in research and development
  • Expenditure towards marketing initiatives
  • General corporate purposes.

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FAQs

Ather Energy operates in Electric Equipments and design and develop E2Ws, battery packs, charging infrastructure, associated software and accessories. The Issue would be listed on MainBoard. The registrar of the Issue is Link Intime India Private Limited. The IPO type of Ather Energy is Book Building Process and Object of issue is

  • Capital expenditure to be incurred by Company for establishment of an E2W factory in Maharashtra, India
  • Repayment/ pre-payment, in full or part, of certain borrowings availed by the Company
  • Investment in research and development
  • Expenditure towards marketing initiatives
  • General corporate purposes.

The DRHP (Draft Red Herring Prospectus) of Ather Energy IPO was filed on 09 Sep 2024.

No, Ather Energy IPO is not yet listed. See other upcoming MainBoard IPOs here.

The IPO open date and IPO close date of Ather Energy are not available now. You can apply in Ather Energy IPO online using either UPI or ASBA as a payment method. ASBA IPO application can be done through net banking of your bank account. UPI IPO application is also offered by brokers, though they don't handle any banking services.

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