Ather Energy is planning to raise up to $200 million through a share sale to institutional investors, according to a Bloomberg report. The electric two-wheeler manufacturer could launch the qualified institutional placement (QIP) as early as next week, the report said.
The company has appointed HSBC Holdings Plc, Axis Capital and Nomura Holdings to manage the share sale, the report added.
Ather launched its initial public offering in May 2025. Since then, its shares have surged more than 250% from the IPO price. These gains accelerated following the outbreak of the Iran war, which drove increased demand for electric transport options and boosted investor interest in the EV sector, the report further said.
1 June 2026
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Shares of the company extended their rally last week, climbing as much as 3.2% to a record high of ₹1,177.25 on the BSE during early trade on Wednesday, marking the fourth straight session of gains. The stock has surged more than 19% over the past four trading sessions since the Delhi Cabinet approved its new EV policy.
Capital raised from the placement will fund expansion plans as competition intensifies in India's electric vehicle market. The company will use the funds to broaden its production capabilities, grow its retail footprint and develop new offerings, including expanding its vehicle range and charging network.
Ather is backed by investors including Hero MotoCorp. Its key competitors in the electric scooter market include Ola Electric Mobility, TVS Motor and Bajaj Auto.
Delhi's New EV Policy
Notably, investor sentiment was also boosted after the Delhi government approved a new EV policy, effective from July 1, aimed at accelerating the transition away from internal combustion engine (ICE) vehicles. The policy includes one of the country's most ambitious electrification roadmaps; registration of new petrol, diesel and CNG-powered two-wheelers will be discontinued from April 1, 2028, after which only electric two-wheelers will be eligible for registration in Delhi.
Chief Minister Rekha Gupta said the policy will be backed by an investment of ₹15,000 crore over the next four years to support the city's transition to cleaner mobility.
To encourage faster adoption, the government will offer a subsidy of ₹30,000 to buyers of electric two-wheelers and ₹50,000 to buyers of electric three-wheelers during the policy's first year. Owners of Bharat Stage-IV (BS-IV) four-wheelers will also be eligible for a scrappage incentive of ₹1 lakh to encourage the replacement of older vehicles.
