Ather Energy has completed a ₹1,300 crore Qualified Institutional Placement (QIP), issuing 10.8 million equity shares at ₹1,202 each. The offer attracted strong demand from institutional investors.
The QIP was oversubscribed eight times and priced above the floor price, showing that investors are confident in the company’s growth prospects.
Foreign institutional investors such as ADIA, White Oak and William Blair participated, along with domestic funds like HDFC Mutual Fund, Axis Mutual Fund and Edelweiss Mutual Fund.
Proceeds from the placement will be used to expand manufacturing capacity and accelerate product development, supporting Ather’s expansion plans.
Co‑founder and CEO Tarun Mehta praised the result, saying the premium pricing and oversubscription reflected the excitement of shareholders and the wider India EV story.
The ₹1,300 crore raise is part of a larger ₹2,500 crore capital raise that the company is pursuing.
Mehta noted that several existing investors, including the company’s co‑founders, would also participate in the broader fund‑raising effort.
He reflected that building an EV company in India once felt like an uphill task, but the successful QIP marks a significant milestone and underscores investor confidence in Ather’s long‑term growth.
Overall, the strong response to the QIP signals robust support for Ather Energy’s future plans and the growing electric vehicle market in India.