ATHER ENERGY CLOSES RS 1,300-CRORE QIP; HDFC MF, ADIA, WHITE OAK AMONG KEY INVESTORS

Ather Energy has closed its Rs 1,300 crore qualified institutional placement (QIP) after issuing 1.08 crore equity shares at Rs 1,202 apiece, with the issue drawing robust demand from institutional investors.

The QIP was oversubscribed eight times and priced at a premium to the floor price, reflecting strong investor confidence in the electric two-wheeler maker's growth prospects.

The issue saw participation from leading foreign institutional investors, including ADIA, White Oak and William Blair, as well as domestic institutional investors such as HDFC Mutual Fund, Axis Mutual Fund and Edelweiss Mutual Fund.

The proceeds will be used to fund Ather's expansion plans, including scaling up manufacturing capacity and accelerating product development.

"The QIP was oversubscribed 8 times and the transaction itself was executed at a premium to the floor price, showing the immense faith and excitement of our shareholders and investors in us and the wider India EV story," co-founder and CEO Tarun Mehta said in a post on X.

Yesterday, we closed our ₹1,300cr capital raise via a QIP, part of a larger ₹2,500cr raise overall.

He added that several existing investors, including the company's co-founders, would also participate in the broader fundraise.

Reflecting on Ather's journey, Mehta said building an EV company in India once seemed like an "uphill task" but described the successful QIP as a significant milestone that underscored investor confidence in the company's long-term growth.

2026-07-21T13:55:28Z