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