Ather Energy plans to raise ₹4,500 crore from IPO: Target of $2.5 billion valuation, will submit draft papers to SEBI next week

Indian electric two-wheeler maker Ather Energy is set to raise Rs 4,500 crore from its Initial Public Offering (IPO). The company's public issue will include the issuance of new shares as well as an Offer for Sale (OFS). According to reports, the company may submit the Draft Red Herring Prospectus (DRHP) i.e. papers for the IPO with market regulator Securities Exchange Board of India (SEBI) next week. The company is targeting a valuation of $2.5 billion The company is targeting a valuation of around $2.5 billion i.e. Rs 20,988 crore. Last month, 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). Ather Energy has reached the category of unicorn startup After this funding round, the valuation of Ather Energy became $1.3 billion i.e. Rs 10,913 crore and it reached the category of unicorn startup. In May, 286 crores were raised through 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 through 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. Co-founders invested Rs 43.28 crore While 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 Ather Energy was incorporated in October 2013. This company is engaged in the business of designing, manufacturing, selling and servicing electric two-wheelers. The company also has its own charging infrastructure.

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