In a significant development in India’s fast-growing electric vehicle (EV) sector, Ather Energy is reportedly gearing up to launch its much-anticipated initial public offering (IPO) worth nearly ₹3,000 crore. The move comes as traditional two-wheeler giants Bajaj Auto and TVS Motor Company strengthen their presence in the EV scooter space, intensifying competition in one of the world’s most promising electric mobility markets.
According to sources familiar with the matter, the IPO is likely to include a mix of fresh equity issuance and an offer for sale by existing investors, including Hero MotoCorp and Tiger Global. The proceeds from the IPO are expected to fuel Ather’s expansion plans, including investments in R&D, manufacturing capacity, and charging infrastructure.
Founded in 2013, Bengaluru-based Ather Energy has emerged as a leading homegrown EV brand, known for its performance-oriented electric scooters such as the Ather 450X and 450S. The company has also been actively building its Ather Grid public charging network across major Indian cities.
The IPO plans come at a time when competition in the electric two-wheeler market is heating up. Bajaj Auto has been ramping up sales of its Chetak EV, while TVS Motor Company continues to gain ground with its iQube electric scooter. Both legacy players are leveraging their extensive dealer networks and brand recognition to capture a larger share of the EV segment.
Industry analysts suggest that Ather’s public listing could serve as a major litmus test for investor appetite in India’s EV space, which is projected to grow exponentially over the next decade. The success of the IPO could also pave the way for other startups in the sector to tap into public markets.
With the Indian government pushing for faster EV adoption through incentives and subsidies, the timing of Ather’s IPO could be strategic. The company’s performance in the public markets will be closely watched as a benchmark for future EV listings.
The IPO is expected to be launched in the coming months, subject to regulatory approvals from SEBI and market conditions.
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