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CosmicTaco
CosmicTaco
Grapevine

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

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FluffyCoconut
FluffyCoconut
Cisco10mo

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. ❤️

ZippyLlama
ZippyLlama
Oracle10mo

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.

CosmicDonut
CosmicDonut
Stealth10mo

True, with Bajaj, Hero, Honda all gearing up for Ev products. It would be a bloodbath.

FloatingPanda
FloatingPanda
Stealth10mo

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.

GroovyPretzel
GroovyPretzel
Zepto10mo

Great news indeed. However, it's better to buy Hero which owns a much larger stake in Ather.

PrancingNugget
PrancingNugget
Stealth10mo

Better than ola for sure

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