Stake sale · Mobility & Logistics

Tiger Global and NIIF sell Ather Energy stakes

By Startup Enthusiast · 7 November 2025

What they do

Ather Energy makes electric scooters and has a growing network of experience centres

Tiger Global sold its entire 5% stake for ₹1,204 crore; NIIF II sold 2.28% for ₹542 crore

The sales came after the lock-in period ended, and Ather's stock has risen 106% in six months

Tiger Global sold its entire 5% stake in Ather Energy through open market transactions on 6 November 2025.
It sold 10 million shares on the NSE at an average of ₹623 per share and 9.3 million shares on the BSE at ₹620 per share, totalling ₹1,204 crore.
The sale happened after the post-listing lock-in period for pre-IPO investors ended.
NIIF II sold 87 lakh shares (2.28% stake) via a block deal on 13 November 2025 at ₹622.35 per share, raising ₹542 crore.
Buyers in the NIIF block deal included Ghisallo, Societe Generale, Invesco Mutual Fund (19.28 lakh shares, ₹120 crore), Motilal Oswal (24 lakh shares, ₹150 crore), and another mutual fund (8 lakh shares, ₹50 crore).
After the sale, NIIF's holding in Ather reduced from 4.67% to 2.39%.
Ather Energy listed on the stock exchanges on 6 May 2025 at ₹328 per share, a 2.18% premium over the issue price.

Tiger Global also reduced its stake in rival Ola Electric from 3.45% to 3.24% by end of June 2025.
Ather's stock has delivered 106% returns in the past six months, making it a multibagger.
The stock closed at ₹654.70 on 7 November 2025, up 3.2% on the BSE.
Ather's market share in electric two-wheelers rose to 17.2% in October 2025 from 14.3% a year ago.

Ather Energy designs and manufactures electric scooters in India.
It operates 524 experience centres across India, up from 446 in the previous quarter, and aims for 700 by end of FY26.
Its South India market share is 25%, up from 19.1% last year.
The company is working on an electric motorbike and a new scalable scooter platform.
A third manufacturing facility is under development in Maharashtra (Chhatrapati Sambhajinagar).
Ather competes with Ola Electric, TVS Motor, and Bajaj Auto.

Ather is working on an electric motorbike and a new scalable scooter platform.
It aims to expand its experience centre network to 700 by end of FY26.
A third manufacturing facility is under development in Maharashtra.

Tiger Global (seller) — A US-based investment firm that was a pre-IPO investor in Ather Energy.
NIIF II (seller) — India's first sovereign wealth fund, registered as a Category II AIF with SEBI, managed by NIIF Limited.
Ghisallo (buyer) — Participated in the NIIF block deal.
Societe Generale (buyer) — Participated in the NIIF block deal.
Invesco Mutual Fund (buyer) — Bought 19.28 lakh shares (₹120 crore) in the NIIF block deal.
Motilal Oswal (buyer) — Bought 24 lakh shares (₹150 crore) in the NIIF block deal.