Funding · Mobility & Logistics

Ather Energy raises ₹2,500 Cr via QIP

By Startup Enthusiast · 13 June 2026

Date: 13 June 2026
Company: Ather Energy
What it does: Electric scooter manufacturer
Kind: Funding
Amount: ₹2,500 Cr
Stage: QIP (Qualified Institutional Placement; a method for listed companies to raise capital by selling shares to qualified institutional investors)
Sector: Mobility & Logistics

What they do

Ather Energy manufactures electric scooters and charging infrastructure in India

The board approved raising ₹2,500 Cr through a QIP and other equity instruments

Funds support R&D, marketing, debt repayment, and the new Factory 3.0 facility

Ather Energy's board approved a ₹2,500 Cr fresh capital raise via QIP and other equity-linked instruments.
The tranche includes up to ₹1,500 Cr through the QIP mechanism specifically.
The remaining ₹1,000 Cr will be raised via preferential issue, rights issue, or FCCBs.
Proceeds will fund R&D, marketing expansion, borrowing prepayment, and corporate requirements.
This follows an IPO that raised ₹2,626 Cr over a year ago.
Stock price tanked nearly 8% following the QIP announcement.
HSBC and Nomura maintain Buy ratings with target prices of ₹1,050 and ₹1,120 respectively.
Investors are watching how the company utilizes capital amidst intense market competition.

CLSA estimates the Indian two-wheeler EV market will grow at 40% annually between FY26-FY30.
CLSA forecasts Ather's market share to reach 22% by FY28.
Ather faces stiff competition from TVS Motor (26% share) and Bajaj Auto (23% share).
Ola Electric recently raised ₹780 Cr via QIP while holding ~9% market share.
Ather's stock had surged +227.5% over the past year before the recent dip.

Ather Energy designs and sells electric scooters and associated charging solutions.
FY26 revenue surged 66% YoY to ₹3,823 Cr.
Sales volume growth reached 69% YoY in FY26.
Market share nearly doubled to 18.6% in FY26.
Rizta family scooters account for over 76% of total FY26 sales.
Over 3 Lakh Rizta units have been dispatched since early 2024.
Factory 3.0 in Aurangabad targets 10 Lakh annual capacity upon completion.
Phase 1 of Factory 3.0 is operationally targeted for Q3 FY27.
The EL range launches late 2026 on a low-cost unibody steel platform.
EL range pricing is expected between ₹90,000–₹1.25 Lakh.
Retail network expanded to 700 experience centres and 548 service centres.
Charging points exceeded 6,000 by FY26 end.
Middle India market share surged from ~4% to 17.3%.
Company holds 643 patent filings as of FY26.