Electric two-wheeler maker Ather Energy has raised ₹1,340 crore from 36 anchor investors ahead of its initial public offering (IPO), according to a filing with the stock exchanges. The shares were allocated at ₹321 per equity share.
SBI Mutual Fund was allocated shares worth ₹310 crore, leading the investment. Other major investors allocated more than ₹100 crore each include Franklin Templeton Global, Aditya Birla Sun Life Mutual Fund, Abu Dhabi Investment Authority, Eastspring Investments, and Invesco Mutual Fund.
The list of anchor investors also includes Custody Bank of Japan, ICICI Prudential Mutual Fund, Morgan Stanley Investment Management, Aditya Birla Sun Life Insurance, Helios Mutual Fund, ITI Mutual Fund, Union Mutual Fund, Tata Investment, Subhkam Ventures, Societe Generale, and BNP Paribas Financial Markets.
Out of the total allocation of 4.17 crore equity shares to anchor investors, 2.06 crore shares, or 49.6%, were allocated to seven domestic mutual funds through 14 schemes, according to a circular uploaded on the BSE website.
IPO to open on April 28
The IPO of Ather Energy will open on Monday, April 28, 2025 and close on Wednesday, April 30, 2025. The price band has been set between ₹304 and ₹321 per equity share of face value ₹1 each.
For the nine months ended December 2024, the company reported an increase in revenue from operations from ₹1,230 crore to ₹1,579 crore. Losses reduced from ₹776.4 crore to ₹578 crore, while adjusted gross margins improved from 9% to 19%. The company attributed the improvement to better cost control and increased sales of its Rizta model.
