ATHER ENERGY EYES FRESH CAPITAL RAISE, BOARD MEETING SET FOR JUNE 12

Ather Energy is set to consider a fresh fundraise just over a month after its stock market debut, as the electric two-wheeler maker's board prepares to meet on June 12 to approve a proposal for raising capital through multiple routes.

In a stock exchange filing dated June 8, Ather Energy informed the National Stock Exchange (NSE) and the BSE that its board of directors will consider raising funds through the issuance of equity shares, foreign currency convertible bonds (FCCBs), non-convertible debentures (NCDs), warrants, or other eligible securities convertible into equity shares.

The company said the proposed fundraising could be undertaken through various permissible methods, including a public issue, rights issue, private placement, qualified institutions placement (QIP), preferential issue, or a combination of these routes, subject to regulatory and shareholder approvals.

Ather did not disclose the size of the proposed fundraise in the filing. The Bengaluru-based EV manufacturer said the board would evaluate the proposal and determine the appropriate structure for the capital raise.

The move comes as competition intensifies in India's electric two-wheeler market, with manufacturers investing heavily in product development, charging infrastructure, retail expansion and technology.

Ather Energy, founded by Tarun Mehta and Swapnil Jain, is among India's leading electric scooter makers. The proposed fundraising, if approved, could provide the company with additional capital to support its growth plans and strengthen its position in the rapidly expanding electric mobility sector.

Ather's proposed fundraise comes at a time when rival EV maker Ola Electric has also tapped institutional investors for fresh capital. Last week, Ola Electric completed a qualified institutional placement (QIP), raising about Rs 780 crore after launching the issue with a floor price of Rs 37.74 per share. The company said the proceeds would be used for debt repayment, growth initiatives and general corporate purposes.

2026-06-08T17:32:29Z