While Ather plans to raise ₹1,500 Cr via a QIP, the remaining ₹1,000 Cr would be raised through a preferential issue, rights issue, equity shares or foreign currency convertible bonds
As part of this, the listed EV major’s board has constituted a committee to deal with all matters related to the proposed fund raise
The EV maker managed to trim its net loss by 57% YoY to ₹100.2 Cr in Q4 FY26, while operating revenue surged 73.7% YoY to ₹1,174.7 Cr during the quarter under review
Listed electric vehicle (EV) maker Ather Energy’s board has approved a proposal to raise up to ₹2,500 Cr via a qualified institutional placement (QIP) and other equity-linked instruments.
In a filing with the exchangesthe original equipment manufacturer (OEM) said that it plans to issue securities totalling up to ₹1,500 Cr via a QIP, while the remaining ₹1,000 Cr would be raised through a preferential issue, rights issue, equity shares or foreign currency convertible bonds (FCCBs).
As part of this, the listed EV major’s board has constituted a committee to deal with all matters related to the proposed fund raise.
This comes days after Ather informed the bourses that its board would consider a proposal to raise fresh funds as the OEM looks to fuel its next phase of growth. If the plans materialise, this will be Ather’s first fundraise post its listing last year.
The development comes as Ather looks to ramp up investments in manufacturing, product development and distribution amid intensifying competition in the electric two-wheeler (E2W) space. Legacy giants TVS Motor and Bajaj Auto continue to maintain a strong grip, cornering a market share of 26% and 23% in May, respectively.
Then, there is the resurgent Ola Electric, which reported the highest 22% jump in registrations to 15,139 units last month, while its market share also improved to around 9%. Not just this, the Bhavish Aggarwal-led company also raised ₹780 Cr via a QIP to bolster its operations.
Meanwhile, Ather would be looking to woo investors for its fundraise with its stronger Q4 FY26 financials and rapid expansion spree. The EV maker managed to trim its net loss by 57.2% to ₹100.2 Cr in Q4 FY26 as against ₹234.4 Cr in the same quarter last year. Meanwhile, operating revenue surged 73.7% YoY to ₹1,174.7 Cr during the quarter under review.
On the operational front, Ather claims to have doubled its retail network during the fiscal to 700 experience centres (ECs) from 351 at the end of FY25. It also increased the number of service centres to 548 in FY26, up nearly 2X YoY. Ather also operated more than 6000 EV charging points by the end of FY26.
On the back of the positive financials, brokerages maintained a positive stance on the stock. HSBC retained its ‘Buy’ rating with a target price of ₹1,050, citing strong brand and execution capabilities. Nomura also maintained a ‘Buy’ call with a target price of ₹1,120, noting strong growth visibility, upcoming platform launches and network expansion despite near-term margin pressure.
As a result, Ather’s stock hit an all-time high of ₹1,068.8 on the BSE on June 8. Shares of the EV maker have surged 44.8% in the past three months, while the stock is up more than 227.5% in the past year.
Shares of Ather closed Friday’s trading session 0.03% higher at ₹1,028.15 on the BSE.
Comments are closed.