- Ather Energy pursues $530M IPO
- Indian EV market accelerates
- Startup races against established competitors
Electric dreams
Ather Energy, an Indian electric scooter manufacturer, is gearing up for a $530 million initial public offering. The Bengaluru-based startup aims to capitalize on India’s booming electric vehicle market.
Charging ahead
Ather plans to sell new shares worth $370 million plus 22 million shares from existing investors. The proceeds will fund a new manufacturing facility, repay borrowings, and boost R&D efforts. The company targets a valuation between $1.5 billion to $2 billion.
Riding the EV wave
India’s electric vehicle market is heating up, driven by government incentives and rising fuel prices. Ather, backed by Hero MotoCorp and NIIF, holds a 19% market share.
It faces stiff competition from rivals like Ola Electric, TVS Motor, Bajaj Auto in the rapidly growing electric two-wheeler segment.
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