Ather Energy, an Indian electric two-wheeler startup, has revised its initial public offering (IPO) size downward by 18% to 26.26 billion Indian rupees, reflecting current market conditions. The startup is targeting a post-money valuation of $1.4 billion, a decrease from previous estimates. It plans to utilize the IPO proceeds for building a new electric vehicle facility in Maharashtra and enhancing its R&D and marketing capabilities while addressing debt repayments. Despite a strategic scaling back, Ather achieved a notable 21% sales increase in 2024, capturing 10.7% market share.
Ather Energy, the Indian startup, has reduced its IPO size by 18% to 26.26 billion Indian rupees amid challenging market conditions, aiming for a post-money valuation of $1.4 billion.
The funds raised will support Ather's expansion, with significant investments into a new electric two-wheeler facility, R&D, marketing, and repayment of borrowings.
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