The fundraising proposal comprises a QIP of equity shares of up to ₹1,500 crore, which will be undertaken in one or more tranches, subject to regulatory approvals and shareholder approval. The decision was approved by the company’s board of directors at its meeting held on June 12.
In addition, the board approved raising up to ₹1,000 crore through equity shares, FCCBs or other eligible securities representing or convertible into equity shares. The issuance may be undertaken through permissible routes, including a preferential issue, rights issue or any other method allowed under applicable laws, in one or more tranches.
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The company said the securities may be rupee-denominated or denominated in one or more foreign currencies. To oversee the process, the board constituted a Fundraising Committee to deal with all matters related to the proposed fundraising.
Ather Energy also approved a postal ballot notice to seek shareholders’ approval through e-voting for the proposed QIP of up to ₹1,500 crore by way of a special resolution. The postal ballot notice will be submitted to the stock exchanges separately.
The company said details such as investors, issue price, number of securities, listing venue, conversion terms and other issue-specific information, where applicable, will be determined by the board at the appropriate time in accordance with applicable regulations.
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Earlier today, Tarun Mehta, the co-founder and CEO of Ather Energy, said, “We have crossed 90% utilisation, and will have to try and find ways to go above 100% in the coming weeks!” he added in a post on the microblogging platform X on June 12.
Ather is the third-largest player by market share among electric two-wheeler makers, after TVS Motor and Bajaj Auto. The Bengaluru-based firm sold 2.62 lakh units in the last financial year ended March 2026, up 69% compared to FY25.
A big chunk of the sales took place between January and March, after the war broke out in West Asia, pushing up crude oil prices past $120 a barrel. The stock has gained more than 227% in the last year.
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Now, Ather is rushing to bring its third unit in Chhatrapati Sambhajinagar, Maharashtra, for which it has spent ₹927 crore out of the nearly ₹3,000 crore it raised via the initial public offering last year. “The new factory can’t go live fast enough,” Mehta added.
EVs make up less than 10% of India’s total two-wheeler sales, which crossed 20 million in the financial year ended March 2026. The recent boom in demand may force companies to consider adding capacity, which could take 18 to 24 months to start production.
Shares of Ather Energy Ltd ended at ₹1,028.15, up by ₹0.30, or 0.029%, on the BSE.
