Ather Energy Might Cut IPO Size As Market Tumbles

According to reports, IPO-bound Ather Energy is expected to reduce the size of its IPO from the initial target of ₹3,500-3,700 crore to ₹2,900-3,200 crore. This comes in the background of the stock market crash after President Trump announced new tariffs. The Bengaluru-based startup is also aiming for a lower post-money valuation of around ₹12,800 crore as opposed to the target of close to ₹14,000 crore.

There are also reports that the smaller size of the IPO is because existing investors are offloading fewer shares. Despite the above challenges Ather is still planning to go ahead with the IPO in the coming few weeks. Ather Energy has been present in the Indian EV market for almost 12 years as the company made its debut in 2013.

The current range of its portfolio is based on the Ather Apex 450 series which has four variants and the Rizta family scooter. The brand is currently the fourth largest EV two-wheeler manufacturer in the country with respect to sales. And has one of the largest charging infrastructure too. Ather also announced its plans of entering the electric motorcycle segment but the launch is at least a few years away. 

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