Indian e-scooter maker Ather Energy files for $536 mln IPO, source says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 09 2024
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Source: Reuters
Ather Energy's IPO Plans: Ather Energy has filed for a ₹45 billion ($536.2 million) IPO at a valuation of $2.5 billion, aiming to capitalize on the booming stock market following Ola Electric's recent public listing. The company plans to use the proceeds to establish a new electric two-wheeler factory and enhance marketing efforts.
Market Competition and Financial Performance: Despite being one of the first e-scooter manufacturers in India, Ather has struggled against larger competitors like Ola Electric and TVS Motor, leading to a widening loss of ₹10.6 billion in fiscal 2024. The overall adoption of electric vehicles is increasing in India, supported by government initiatives for clean energy.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
