Ather to file IPO next week; Q1 revenue at ₹339 cr
- Ather Energy is planning to file its draft red herring prospectus (DRHP) with SEBI next week for an INR 4,500 Cr IPO, targeting a valuation of around $2.5 Bn. - This move follows Ola Electric's public debut, which raised over INR 6,145.6 Cr, valuing the company at $4 Bn. - Ather recently joined the unicorn club after raising INR 600 Cr from National Investment and Infrastructure Fund, reaching a post-money valuation of $1.3 Bn. - The company manufactures escooters and battery packs, and has expanded its business to Sri Lanka and Nepal. - Despite its growth, Ather remains a loss-making entity, with net losses widening to INR 1,059.7 Cr in FY24. Source: [Inc42]()
Wow proud of what they’ve accomplished. Love the Ather product
Heard they came very close to going bankrupt in this journey. But finally they’ll be going public. ❤️
Even though they have the best product out there, marketing matters. If I ask a common man in my Tier 3 town about Ather, most probably they might not have heard it. The name itself is too fancy. I still doubt their future progress. Also I do believe traditional ICE players will take over in EVs too and recent reports are suggesting the same. Anyways, it's a great company with a genuine product.
Kalan Lee
Stealth
2 months ago
True, with Bajaj, Hero, Honda all gearing up for Ev products. It would be a bloodbath.
Ather is already backed by Hero around 40% I guess. It can come out as trust factor in future when they officially market that way.
Great news indeed. However, it's better to buy Hero which owns a much larger stake in Ather.
Kendall Lee
Stealth
2 months ago
Better than ola for sure
