Prior to its initial public offering (IPO), Ather Energy, a manufacturer of electric two-wheelers, has distributed shares to anchor investors valued at Rs. 1,340 crore, or around $157 million.
According to Unicommerce's regulatory filing obtained from the Bombay Stock Exchange (BSE), the board has decided to offer 4,17,45,576 equity shares to its anchor investors at an issue price of Rs. 321 apiece (upper-band).
Ather's principal anchor investors are SBI, Morgan Stanley, ICICI Prudential, Franklin Templeton, Invesco, Abu Dhabi Investment Authority (ADIA), and Societe Generale. The report also said that 7 domestic mutual funds through 14 schemes received 49.6% of the overall allocation out of the entire issue.
From April 28 to April 30, Ather Energy launched its public offering with a minimum bid quantity of 46 equity shares and a price range of Rs 304–321.
With 38.19 percent of Ather Energy prior to the anchor round, Hero MotoCorp was the company's largest stakeholder. Caladium Investment (GIC), with a 15.43 percent stake, comes next. Tiger Global owns 6.56 percent, while the National Investment and Infrastructure Fund (NIIF) owns 14.22 percent. Mehta and Jain, co-founders of Ather, each own 6.81 percent of the company. In its initial public offering, Ather valued itself at $1.44 billion, according to Entrackr's calculations.
The business made Rs. 1,578.9 crore from the sale of 1,08,000 vehicles in the first nine months of FY25. But in the same time frame, it reported a loss of Rs. 579.6 crore.
